BREAKING: Memphis Grizzlies Reportedly Release Former NBA All-Star

According to Shams Charania of The Athletic, the Memphis Grizzlies will waive Derrick Rose.

Zach Kleiman, Grizzlies president and general manager of basketball operations, listens during a press conference to introduce the team’s 2024 NBA Draft picks at FedExForum on Friday, June 28, 2024. / Chris Day/The Commercial Appeal / USA TODAY NETWORK

UPDATE: Drew Hill of The Daily Memphian reports that Rose and the Grizzlies agreed to a contract buyout.

Via Hill: "Derrick Rose and the Memphis Grizzlies agreed to a buyout after Rose asked to be let out of his contract, a source confirms.

Memphis should have the opportunity moving forward to add another player later. Scotty Pippen Jr. also impressed this summer."

Derrick Rose and the Memphis Grizzlies agreed to a buyout after Rose asked to be let out of his contract, a source confirms.

Memphis should have the opportunity moving forward to add another player later. Scotty Pippen Jr. also impressed this summer.

— Drew Hill (@DrewHill_DM) September 23, 2024

Derrick Rose is coming off a season where he appeared in 24 games for the Memphis Grizzlies.

The 2011 MVP finished the year with averages of 8.0 points, 1.9 rebounds and 3.2 assists per contest while shooting 46.1% from the field and 36.6% from the three-point range.

On Monday, Shams Charania of The Athletic reported that the Grizzlies will waive Rose.

Via Charania: "Just In: The Memphis Grizzlies are waiving former NBA MVP Derrick Rose, sources tell @TheAthletic."

Just In: The Memphis Grizzlies are waiving former NBA MVP Derrick Rose, sources tell @TheAthletic. pic.twitter.com/VkLqZDYC3X

— Shams Charania (@ShamsCharania) September 23, 2024

SNY's Ian Begley reported more details on the news.

Begley: "My understanding on Derrick Rose, per sources familiar with the matter: Memphis let Rose out of his contract. Look for Rose to prove an update on what’s next for him later this week."

My understanding on Derrick Rose, per sources familiar with the matter: Memphis let Rose out of his contract. Look for Rose to prove an update on what’s next for him later this week.

— Ian Begley (@IanBegley) September 23, 2024

Rose was the first pick in the 2008 NBA Draft after one season of college basketball at Memphis.

He has played 15 seasons for the Chicago Bulls, New York Knicks, Detroit Pistons, Minnesota Timberwolves and Cleveland Cavaliers (in addition to the Grizzlies).

The three-time NBA All-Star has career averages of 17.4 points, 3.2 rebounds and 5.2 assists per contest while shooting 45.6% from the field and 31.6% from the three-point range in 723 games.

BREAKING: Grizzlies release Derrick Rose, per @ShamsCharania

Which team should sign him? 👀 pic.twitter.com/SRjgUk98Db

— Legion Hoops (@LegionHoops) September 23, 2024

As for the Grizzlies, they finished last season as the 13th seed in the Western Conference with a 27-55 record.

They missed the NBA playoffs for the first time since the 2020 season (four years ago).

If the Grizzlies can have a healthy season, they are expected to be a top-eight seed in the Western Conference.