With only $2 million of Jonas Valanciunas' $10 million salary for next season guaranteed, the writing has been on the wall for a while, considering how the Nuggets are looking to save money as they look to extend Peyton Watson.
The Nuggets have officially waived Valanciunas, a story first reported by Michael Scotto of HoopsHype.
Valanciunas was Nikola Jokic's backup in Denver last season, averaging 8.7 points and 5.1 rebounds per game while shooting 58.2%. Denver has signed Marvin Bagley III to fill that backup role this season.
Don't be surprised if the 14-year NBA big man signs to play in Europe next season. There were rumors last season he wanted to negotiate a buyout with Denver to sign with Greek side Panathinaikos, but Denver was not about to let him go, they needed him. There is interest from Lithuanian side Zalgiris Kaunas, reports Donatas Urbonas of BasketNews.com.