12:22 p.m: The Grizzlies issued a press release officially confirming that Russell has been released (Link to Twitter).
The team also signed a rookie quarterback Brandon Hausenwho went undrafted out of Iowa in June. Although the terms of the deal were not specified, it is believed to be the case Exhibition 10 agreement securing Hausen’s G League rights and setting him up for a bonus if he spends at least 60 days with the Memphis Hustle this fall.
11:48 am: Grizzlies waived the veteran point guard D’Angelo RussellESPN’s Shams Charania reports (Link to Twitter).
Memphis will have to deal with a player shortage this fall, with 19 players under standard contracts entering Friday’s day. Russell has always seemed to be the odd man out, and waiving him now would give him a chance to waive claims before most teams begin training camp next week. Sources tell Brett Siegel of ClutchPoints that he hopes to go with a playoff opponent (Link to Twitter).
A former second overall pick who made the 2019 All-Star team, Russell has seen his playing time and production drop dramatically in recent years.
The 30-year-old signed a two-year, $11.7 million contract with Dallas ahead of the 2025/26 season and was due to be replaced by Kyrie Irving as the team’s starting point guard. However, he came off the bench to open the season and then fell out of the rotation altogether.
Russell ended up appearing in just 26 games for the Mavericks, starting three times and averaging 10.2 points per game on .405/.295/.717 shooting. It was the second year in a row that he posted shooting numbers well below his career numbers. In the 2024/25 season, he shot just 39.0% from the field and 31.4% from 3-point range in 58 games for the Lakers and Nets.
The Mavericks traded Russell to the Wizards at the 2026 trade deadline Anthony Davis blockbuster, but he wasn’t required to report to his new team for the second half of the season. After exercising his player option in June, D-Lo was traded to Memphis in July as part of trading six teams that is involved Isaiah Stewart, Saint Aldama, John Collinsand Chris Middletonamong others.
The Grizzlies will be on the hook due to Russell’s $5.97 million expiring salary being fully guaranteed. They will need to take a few more steps before opening night to make the 15-man roster for the regular season, as they still have 17 players under guaranteed contracts and Jaylen Wells on a partially guaranteed transaction.
