The Memphis Grizzlies are waiving 2025 No. 18 pick Walter Clayton Jr. and former second-round pick Micah Peavy, sources told ESPN's Shams Charania on Monday.
The moves helped Memphis finalize its roster for the regular season by the 5 p.m. ET cut-down deadline.
The Grizzlies entered Monday with 17 players on standard contracts and three more on two-way deals. Sixteen of the 17 contracts are guaranteed. Jaylen Wells' $2.3 million salary became guaranteed Monday.
Memphis acquired Clayton from Utah on Feb. 3 in the eight-player trade that sent Jaren Jackson Jr., Jock Landale, John Konchar and Vince Williams Jr. to the Jazz. Clayton played 24 games for the Grizzlies last season after the trade, averaging 9.7 points, 2.1 rebounds and 5.7 assists and shooting 36.6% from 3-point range.
Peavy, the 40th pick of the 2025 draft, played 61 games as a rookie with the New Orleans Pelicans last season, including four starts. He averaged 4.3 points, 1.9 rebounds and 1.0 assists.