The Sacramento Kings waived guard DeMar DeRozan, the team announced Monday.
DeRozan and Sacramento reached the decision together after exploring potential trade options, ESPN's Shams Charania reports. DeRozan was signed for the 2026-27 campaign with a cap hit of $25.7 million, which included $10 million in guarantees.
The Kings have until the end of August to waive-and-stretch DeRozan's contract over three seasons, according to ESPN's Bobby Marks. His release will push the team below both aprons of the salary cap.
DeRozan spent the last two seasons with the Kings. He inked a three-year, $74-million contract with Sacramento after being acquired in a sign-and-trade with the Chicago Bulls.
The 36-year-old averaged 18.1 points, 4.1 assists, and 2.1 rebounds per game while shooting 49.7% from the field last year. The Kings went 22-60 and finished 14th in the Western Conference.
Multiple contenders are expected to pursue DeRozan in free agency, according to Charania. The six-time All-Star has averaged 21.1 points per game during his 17-year career.
