Jeremy Pargo News: Pargo was waived by the Cavaliers, Yahoo! Sports reports. He was released to create space on the roster following the recent four-player trade with Memphis.

Pargo was waived by the Cavaliers, Yahoo! Sports reports. He was released to create space on the roster following the recent four-player trade with Memphis.

Pargo averaged 7.8 points and 2.6 assists in 17.9 minutes this season for the Cavaliers. He served as the team's third-string point guard and failed to make much of a fantasy impact. Recently-acquired guard Josh Selby will likely take over his role.