Report: Nuggets to waive Kostas Papanikolaou

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The Denver Nuggets are set to waive Kostas Papanikolaou, according to international reporter David Pick.

Denver acquired Papanikolaou from the Houston Rockets in the Ty Lawson trade, and his status with the team always seemed tenuous.

While Papanikolaou technically had his 2015-16 option picked up by the Rockets before the deal, it was strictly for the purposes of salary matching in a potential trade - his entire $4.8-million salary is non-guaranteed.

The Rockets effectively paid Papanikolaou $4.8 million in 2014-15 in order to get him to agree to an equal non-guaranteed amount this season, making him a trade asset in a similar vein to Brendan Haywood.

By waiving the Greece native before his salary becomes fully guaranteed on Oct. 4, the Nuggets maintain some roster flexibility for the rest of the offseason. Papanikolaou would've been superfluous in the Nuggets' frontcourt, and while he showed an ability to slot in at three positions last season, Denver is committed to giving several other young players run in those spots.

The 25-year-old may get a training camp look from another team or could head back overseas, where he spent the first several years of his pro career, first with Aris, then Olympiacos, and, finally, Barcelona.

In 43 games with the Rockets, Papanikolaou averaged 4.2 points, 2.7 rebounds, and two assists while shooting 35 percent from the floor.