6:01pm: The team officially confirmed the move, via press release.
4:48pm: The Celtics have informed Shavlik Randolph that they won't be picking up his team option, according to Jeff Goodman of ESPN.com (via Twitter). Randolph's contract doesn't technically include a team option, but his 2013/14 salary is non-guaranteed, which amounts to the same thing. That salary was set to become fully guaranteed if the big man remained on Boston's roster beyond today.
Randolph, 29, inked a pair of 10-day deals with the Celtics in 2012/13 before signing with the team for the remainder of the season, as our 10-day contract tracker shows. The former Duke Blue Devil appeared in 16 contests for Boston, averaging 4.2 PPG and 4.4 RPG. He'll become an unrestricted free agent, assuming no team claims him on waivers.
By cutting Randolph, the Celtics will reduce their roster count to 15 players, the maximum amount a team can carry during the regular season.