1:22pm: The Pelicans reached a buyout agreement with Taylor, according to John Reid of The Times Picayune, though it’s unclear how much money the one-year veteran gave up.
THURSDAY, 11:12am: The team has officially announced the move.
WEDNESDAY, 4:55pm: The Pelicans have waived Tyshawn Taylor, reports Adrian Wojnarowski of Yahoo! Sports (Twitter link). John Reid of The Times Picayune noted earlier that the team was unsure about Taylor’s future in New Orleans after acquiring him via trade from the Nets on Tuesday. The move opens up a roster spot for the Pelicans, who had been carrying the maximum 15 players.
Reid’s story suggested that Taylor might buy out the remainder of his guaranteed minimum-salary deal, but it’s not clear whether that happened. If there was no buyout, the point guard’s $788,872 will remain on the Pelicans’ books unless another team claims him off waivers. There’s a chance that a team could put in a claim, given the diminutive size of the 23-year-old’s contract and the fact that he’s unlikely to sign for more money elsewhere. Regardless, the Nets sent enough cash to New Orleans to cover their obligation to Taylor, so the Pelicans aren’t taking a financial hit.