Memphis Grizzlies waive D'Angelo Russell and sign Brendan Hausen

The Memphis Grizzlies have waived veteran guard D'Angelo Russell ahead of the start of NBA training camp. The move comes as the franchise seeks to trim its roster to meet league requirements and manage its salary cap.

Russell, a 30-year-old former All-Star and the No. 2 overall pick in the 2015 NBA Draft, was acquired by Memphis in July as part of a complex six-team trade involving the Washington Wizards. He will become an unrestricted free agent once he clears the waiver process. Russell is currently on an expiring $6 million contract.

In conjunction with Russell's release, the Grizzlies signed undrafted rookie guard Brendan Hausen to an Exhibit 10 contract. Hausen, a former player for Villanova, Iowa, and Kansas State, is expected to compete for a roster spot during the preseason.