Sacramento Kings waive DeMar DeRozan amid salary cap adjustments

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The Sacramento Kings waived DeMar DeRozan on Monday. The decision was driven by financial considerations as the team exceeded the luxury tax line.

The Kings will save at least $15.7 million from the move. Only $10 million of DeRozan's $25.7 million salary was guaranteed.

DeRozan, who enters his age-37 season, ranks 18th on the NBA's all-time scoring list with 26,711 career points. He averaged 18.4 points per game last season.

The rebuilding Kings no longer had a roster spot for the former All-Star. DeRozan is now expected to enter free agency and could attract offers from several teams.

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