"I thank the Pistons organization for working together on an outcome that benefits all involved and I wish the franchise success in the future," Griffin said, according to Sports Illustrated's Chris Mannix.
Griffin was set to make $36.8 million in 2020-21 and held a player option for just under $39 million next year. As part of the buyout agreement, he'll reportedly give back $13.3 million remaining on his contract to the Pistons.
The Los Angeles Lakers, Miami Heat, Golden State Warriors, and Boston Celtics are among the other playoff contenders interested in signing the 31-year-old, sources told The New York Times' Marc Stein, while the Portland Trail Blazers have an interest as well, ESPN's Adrian Wojnarowski reports.
The Los Angeles Clippers are also looking at Griffin, per Stein, presenting the opportunity for an improbable reunion. Los Angeles drafted the Oklahoma phenom first overall in 2009 and eventually re-signed him to a five-year, $171.2-million contract in 2017. The Clippers ultimately traded Griffin to the Pistons less than one year into the mammoth pact.
Over parts of four seasons in Detroit, Griffin averaged 20.7 points, 6.7 rebounds, and five assists in 33.3 minutes per game. Injuries forced his transition from being one of the league's top above-the-rim scorers to embracing more of a perimeter-oriented playmaking style, Griffin shot just 43.4% from the floor overall and 33.9% on 3-pointers in the Motor City.
Before being removed from the Pistons' rotation in mid-February, Griffin had averaged 12.3 points, 5.2 boards, and 3.9 dimes across 20 appearances this season.
Griffin has averaged 21.4 points, 8.7 rebounds, and 4.4 assists overall through 11 seasons, earning six All-Star appearances, five All-NBA selections, Rookie of the Year honors, and a Slam Dunk Contest victory. He finished in third place in MVP voting in 2013-14.