BREAKING: Brooklyn Nets Reportedly Release Former NBA 1st-Round Pick

According to Chris Haynes of the NBA on TNT and Bleacher Report, the Brooklyn Nets will waive Harry Giles.

UPDATE: Harry Giles has been officially waived.  

Thank you, Harry pic.twitter.com/Q6Nex0lsCN

— Brooklyn Nets (@BrooklynNets) February 8, 2024

On Thursday evening, the Brooklyn Nets will host Donovan Mitchell and the Cleveland Cavaliers at Barclays Center in New York.    

Before the game, Chris Haynes of the NBA on TNT and Bleacher Report reported that the team will waive Harry Giles.  

Via Haynes: "Brooklyn Nets are waiving Harry Giles III, league sources tell @NBAonTNT,  @BleacherReport."

Brooklyn Nets are waiving Harry Giles III, league sources tell @NBAonTNT, @BleacherReport.

— Chris Haynes (@ChrisBHaynes) February 8, 2024

Giles has played in 16 games and is averaging 3.4 points and 1.6 rebounds per contest while shooting 50.0% from the field and 27.3% from the three-point range. 

However, he had not played in each of the team's previous two games. 

Giles had been out of the league for two seasons before joining the Nets. 

The 25-year-old was the 20th pick in the 2017 NBA Draft out of Duke and has also spent two seasons with the Sacramento Kings and one with the Portland Trail Blazers. 

His career averages are 5.6 points, 3.6 rebounds and 1.1 assists per contest while shooting 51.1% from the field and 26.2% from the three-point range in 158 regular season games. 

He has also appeared in one NBA playoff game (with Portland). 

Once Giles clears waivers, he could be an intriguing option for another team to sign. 

As for the Nets, they have made the NBA playoffs in each of the previous four seasons but are currently the 11th seed in the Eastern Conference with a 20-30 record in 50 games.  

They are 4-6 over their last ten games and are also in the middle of a two-game losing streak.