4:45 p.m.: In a press release (Link to Twitter), the Grizzlies confirmed that Clayton and Peavy have been released.
3:58 p.m.: The Grizzlies refuse Walter Clayton the youngest and Micah Peavysources tell ESPN’s Shamsu Charanya (Link to Twitter).
Memphis faced a roster shortage this fall with 16 players under guaranteed contracts and Jaylen Wells on a partially guaranteed transaction. The Grizzlies’ roster will be ready for the regular season after Clayton and Peavy are cut.
The Grizzlies will receive roughly $6.4 million in dead money by letting go of Clayton, who is owed about $4.2 million this season, and Peavy, who will make roughly $2.2 million. Neither player has guaranteed money beyond 2026/27.
Mark Stein and Jake Fisher of The Stein Line reported Monday afternoon that the Grizzlies were looking for a trade Clayton with reference to The necklaces as a team that might be interesting. Memphis acquired the former Florida star from the Jazz in February as part of a deal Jaren Jackson Jr trade
It’s possible that Clayton could end up in Sacramento if he’s on waivers. The Kings opened a two-way spot on Monday by releasing the guard Adam Flagler.
Brett Siegel of ClutchPoints says Miami is another team rumored to be interested in Clayton (Link to Twitter). Fisher reported earlier what Heat and Warriors were intrigued by Clayton’s entry in last year’s draft when he was selected 18th overall after leading the Gators to the national title.
In 69 games last season as a rookie for Utah and Memphis, Clayton averaged 7.8 points, 4.0 assists and 2.0 rebounds in 20.4 minutes per game, hitting .384/.307/.901.
Assuming he accepts the waiver, Clayton’s third-year option for 2027/28 will be declined as part of the deal.
Peavy, meanwhile, was also selected in last year’s draft, going 40th overall. He spent his rookie season with the Pelicans, who traded him to the Grizzlies in September.
A 6-foot-7 wing who finished his collegiate career at Georgetown, Peavy averaged 4.3 ppg and 1.9 ppg on .385/.259/.759 shooting in 62 games last season. He was sidelined during training camp and the preseason with an ankle injury.
Fourth course ahead Chris Murray was another Grizzlies rookie who was considered a candidate to be waived but ended up making the regular season roster.
