Jazz Waive Raul Neto

4:52pm: The Jazz have officially waived Neto, the team announced today in a press release.

12:37pm: The Jazz plan to waive point guard Raul Neto in order to create space for the Mike Conley trade with Memphis, according to Shams Charania of The Athletic (Twitter link).

Utah agreed to send Jae CrowderKyle KorverGrayson Allen, the No. 23 pick in the draft and a future first-round pick to the Grizzlies for Conley in June, revamping their franchise with hopes of contending for a championship next season.

The Jazz also agreed to deals with free agents Bojan Bogdanovic (4-year/$73MM) and Ed Davis (2-year/$10MM) at the start of free agency. Utah has competed in the playoffs in each of the last three years, losing to the Rockets 4-1 in the opening round this past April.

Neto, 27, will become a strong option on the market for teams seeking a back-up guard, according to Charania. He’s spent all four of his seasons with the Jazz, holding career-averages of 4.8 points, 1.9 assists and 14.2 minutes per game.

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