Report: Grizzlies waive former MVP Rose

The Memphis Grizzlies are cutting Derrick Rose from their roster, sources told The Athletic's Shams Charania.

Rose signed a two-year deal with Memphis ahead of the 2023-24 season. He was guaranteed $3.4 million in salary for 2024-25, according to Spotrac.

Rose is expected to deliver an update on his career this week, sources told SNY's Ian Begley, who also reports that the Grizzlies agreed to let the veteran point guard out of his contract.

The 35-year-old averaged eight points per game, 3.3 assists and 1.9 rebounds in 24 appearances for the Grizzlies last season. He battled multiple injuries, including a back issue that ended his campaign with over a month remaining in the regular season. He also missed several weeks in December and January with a lingering left hamstring injury.

Rose, the 2008 first overall pick, spent his college career in Memphis and enjoyed a standout freshman season with the Tigers in 2007-08.