5:54pm: The Grizzlies have officially waived Rose, according to the NBA’s transactions log.
4:00pm: The Grizzlies plan to waive veteran point guard Derrick Rose, sources tell Shams Charania of The Athletic (Twitter link).
Rose had one year left on the two-year, veteran’s minimum contract he signed with Memphis last offseason. According to Ian Begley of SNY TV (Twitter link), Rose requested to be released from his contract. Expect the former MVP to provide an update on his status later in the week, Begley adds. It remains to be seen whether Rose is contemplating retirement or seeking out another opportunity.
Rose had been expected to battle for playing time behind starting point guard Ja Morant. Memphis’ decision to waive Rose may signal that it will offer a standard contract to Scotty Pippen Jr., who is currently on a two-way deal. However, the Grizzlies will likely target more depth at that position, according to Damichael Cole of the Memphis Commercial Appeal (Twitter link).
There are some veteran point men still on the free agent market, including Markelle Fultz and Dennis Smith Jr. As our Offseason Check In displays, the Grizzlies are operating over the cap but well below the luxury tax line and have exceptions available if they choose to use them.
Rose, who turns 36 next month, only appeared in 24 games with the Grizzlies last season, including seven starts. He averaged 8.0 points and 3.3 assists in 16.6 minutes. He battled knee, hamstring, ankle and back ailments last season. He hasn’t appeared in more than 27 games over the last three seasons after playing in a combined 50 games with Detroit and New York in 2020/21.
The first overall pick of the 2008 draft, Rose made three All-Star teams before knee injuries plagued his career. He’s appeared in 723 regular-season games, averaging 17.4 points and 5.2 assists in 30.5 minutes.
Been washed for years. But plenty of people still clung onto the early career, pre-injury years as evidence that he was still a star until like 2020, which was when he stopped being a useful player.
Been awful since 2021, but also deserves a medal for tricking the Knicks into giving him a 2/28M deal that late into his career when he clearly had nothing left.