The Cavaliers have waived guard Jacob Gilyard, Spotrac contributor Keith Smith tweets.
Gilyard, 26, was added to the camp roster late last month. He appeared in one preseason game.
Gilyard spent last season on two-way deals with the Grizzlies and Nets, appearing in a total of 41 games for the two teams. The 5’9″ point guard held a rotation role for Memphis, averaging 4.7 points and 3.5 assists with a .425 3PT% in 17.7 minutes per game across 37 outings (14 starts).
He became an unrestricted free agent this summer after the Nets opted not to tender him a two-way qualifying offer.
The Cleveland Charge acquired Gilyard’s rights in a trade with the Memphis Hustle prior to Gilyard signing an Exhibit 10 contract. He will be eligible for a bonus worth $77.5K as long as he spends at least 60 days with the Cavs’ G League team.