The Milwaukee Bucks will waive George Hill, who will become a free agent, sources told The Athletic's Shams Charania.
Milwaukee will attempt to re-sign the guard in free agency, Charania adds.
Hill is guaranteed just $1 million of the $18 million he was set to make next season since he was released before July 1.
The 33-year-old point guard performed well after the Bucks acquired him from the Cleveland Cavaliers in December, especially during Milwaukee's playoff run to the Eastern Conference finals. He still serves as a strong two-way presence who can play on and off the ball.
Hill averaged 6.8 points and 2.1 assists in 47 regular-season games with the Bucks before bumping up his production in the postseason, averaging 11.5 point and 2.8 dimes in 15 playoff appearances.