Few terms around the NBA sting like “waived”, especially when it applies to an All-Star. So when the Bucks recently stunned the basketball world by waiving Damian Lillard, stretching the remaining $113 million of his deal to free up space for center Myles Turner, this wasn’t any ordinary roster move.
Nine-time All-Star, future Hall-of-Famer, and former unquestioned leader in Portland, Lillard is now the face of a remarkable franchise decision, one that sent shockwaves through Milwaukee’s locker room (even reportedly unsettled Giannis). That bombshell got us thinking: Lillard isn’t the first big-name to be cut loose mid-career.
From Reggie Miller and Paul Pierce to Gary Payton and Steve Nash, the NBA has seen its share of decorated legends let go in shocking fashion. So let’s dive into the top 10 greatest NBA stars who were waived.
1. Dwyane Wade
Jan 24, 2017; Orlando, FL, USA; Chicago Bulls guard Dwyane Wade (3) drives to the basket against the Orlando Magic during the second half at Amway Center. Chicago Bulls defeated the Orlando Magic 100-92. Mandatory Credit: Kim Klement-Imagn Images
Mandatory Credit: Kim Klement-Imagn Images
In the twilight of his career, Dwyane Wade joined the Chicago Bulls for the 2016-17 season but soon realized the fit wasn’t right. The Bulls arranged a contract buyout, placed him on waivers in September 2017, and ultimately it cleared by that Wednesday, making him a free agent before he inked a $2.3 million, one-year deal to reunite with LeBron James and the Cavaliers.
By then, age had caught up, and while Wade still offered flashes (22 PPG per 36 in Chicago ), the waiver was inevitable. Our take? Wade exited on his terms, a good sport, a wise vet, and still a Hall-of-Famer. Thankfully, Wade would get the career-ending he deserved following the ugly stint in Cleveland by retiring with the Heat.
2. Allen Iverson
November 2, 2009; Sacramento, CA, USA; Memphis Grizzlies guard Allen Iverson (3) talks to a teammate during the fourth quarter against the Sacramento Kings at Arco Arena. The Kings defeated the Grizzlies 127-116 in overtime. Mandatory Credit: Kyle Terada-Imagn Images
Mandatory Credit: Kyle Terada-Imagn Images
In November 2009, after just three games with the Grizzlies, Allen Iverson and Memphis agreed to terminate his $3 million deal. He wasn’t claimed by the 5 p.m. Eastern deadline, making him officially waived via a mutual termination.
Iverson was at his post-prime, frustrated with a bench role and persistent injuries; this was essentially a defiant farewell. Classic AI: quick to chuck the bench role rather than adapt. Iverson was raw, emotional, and sometimes irrational, but was always unapologetically himself. That's why he is one of the most beloved players in NBA history.
3. Steve Nash
Jan 15, 2013, Los Angeles, CA, USA; Los Angeles Lakers guard Steve Nash (10) dribbles the ball against the Milwaukee Bucks at the Staples Center. The Lakers defeated the Bucks 104-88. Mandatory Credit: Kirby Lee/Imagn Images
Mandatory Credit: Kirby Lee/Imagn Images
Following nagging injuries and a retirement announcement in March 2015, the Lakers officially waived Steve Nash on April 1 to clear a roster spot (and salary) for rookie Jabari Brown. The move was procedural, still earning his $9.7 million, but off the Lakers’ books.
Nash was still a walking highlight tape when he could get on the court as a two-time MVP, but was completely shelved by injuries and age. The Lakers cut bait late; they loved his star name but couldn’t risk rallying their rebuild around his broken body. Sad, but pure cap decision.
4. Gary Payton
Gary Payton, Atlanta Hawks
Gary Payton, Atlanta Hawks
Credit: Fadeaway World
On March 1, 2005, the Hawks waived Gary Payton after trading for him mid-season. Atlanta, clearly rebuilding, didn’t report him and reached a buyout. So, Payton was waived to clear cap space and pursue a contender.
This was another necessary move. Payton was past his DPOY days, still sharp-mouthed, still hungry, but undeniable decline. Waived amid a rebuild, he rebounded briefly in Boston. Payton was still one of the great ultra-competitive teammates-to-get-your-teeth-kicked-in guards of all time.
5. Paul Pierce
Oct 28, 2015; Sacramento, CA, USA; Los Angeles Clippers forward Paul Pierce (34) reacts after a basket against the Sacramento Kings during the fourth quarter at Sleep Train Arena. The Los Angeles Clippers defeated the Sacramento Kings 111-104. Mandatory Credit: Kelley L Cox-Imagn Images
Oct 28, 2015; Sacramento, CA, USA; Los Angeles Clippers forward Paul Pierce (34) reacts after a basket against the Sacramento Kings during the fourth quarter at Sleep Train Arena. The Los Angeles Clippers defeated the Sacramento Kings 111-104. Mandatory Credit: Kelley L Cox-Imagn Images
Credit: Kelley L Cox-Imagn Images
After a final veteran season with the Clippers (2015-17), Paul Pierce announced his retirement in Feb 2017. On June 28, the Clippers officially waived him, clearing the way for a ceremonial one-day Celtics contract. After all, how could we accept any other way?
This was a textbook farewell ending to a legendary player. Pierce was a Celtics icon downgraded to a bench veteran. He saw it, said goodbye, and orchestrated the ultimate farewell tour. We have to respect that. There was no drama, just dignity on his own terms.
6. Damian Lillard
Milwaukee Bucks guard Damian Lillard (0) reacts after scoring against the Dallas Mavericks during the second half at American Airlines Center.
Milwaukee Bucks guard Damian Lillard (0) reacts after scoring against the Dallas Mavericks during the second half at American Airlines Center.
Mandatory Credit: Kevin Jairaj-Imagn Images
On July 1, 2025, the Milwaukee Bucks ripped off the band-aid on one of the most shocking front-office moves in recent history. Despite two years and roughly $113 million remaining, they waived Damian Lillard using the NBA stretch provision.
By distributing his final two years of salary over five seasons, the Bucks cleared roughly $30 million in cap space, aiming to lure in free agent center Myles Turner to appease Giannis and the fanbase. There hasn't been a player waived in his prime like Lillard was.
Lillard is 34 and currently recovering from a torn Achilles suffered in the first-round playoffs, but he’s still an elite scorer (24.9 PPG this season) and a nine-time All-Star. Overall, Lillard walked away with dignity intact, financially secure, and knighted as the centerpiece of the biggest waive-and-stretch ever.
It's a business move, but expect any team in win-now mode to pounce once he’s healed. We have some ideas where the superstar point guard should end up because he will likely return at full force after next season.
7. Vince Carter
Dec. 29, 2010; Phoenix, AZ, USA; Phoenix Suns guard (25) Vince Carter against the Philadelphia 76ers at the US Airways Center. The 76ers defeated the Suns 123-110. Mandatory Credit: Mark J. Rebilas-Imagn Images
Mandatory Credit: Mark J. Rebilas-Imagn Images
In December 2010, former superstar Vince Carter landed in Phoenix on an unguaranteed contract worth $18 million. The Suns swiftly waived him within 72 hours of free agency to dodge luxury tax penalties, only owing him around $4 million.
This was twilight-career financial maneuvering, not disdain. Vince, 33 at the time, had morphed from aerial phenom into mentoring veteran. Still, the Suns didn’t need his fading jump shot or cap hit.
As in the cases above, Carter took it gracefully, cash in hand, and pivoted to roles with Orlando, Dallas, Memphis, Sacramento, and Atlanta before gracefully retiring. At least there wasn't any drama along the way, just pure business.
8. Reggie Miller
Unknown date; Indianapolis, IN, USA; FILE PHOTO; Indiana Pacers guard Reggie Miller (31) in action at Market Square Arena. Mandatory Credit: Imagn Images
Mandatory Credit: Imagn Images
Reggie Miller wasn't technically "waived" in the traditional sense, but instead, the Indiana Pacers used the one-time amnesty provision of the new Collective Bargaining Agreement to release him. This allowed the team to waive him and remove his contract from their luxury tax calculations, even though he had one year remaining on his contract.
The Pacers still had to pay him his $6.1 million salary for that final year, but they avoided the luxury tax penalty associated with exceeding the salary cap. Reggie was past his prime when this happened, but it doesn't remove him from the list as one of the all-time greats who faced this feat.
9. Dennis Rodman
March 1, 1999; Phoenix, AZ, USA; FILE PHOTO; Los Angeles Lakers Dennis Rodman and Derek Fisher battle for a rebound while Phoenix Suns Rex Chapman watches. Mandatory Credit: Michael Chow-USA TODAY NETWORK
Mandatory Credit: Michael Chow-USA TODAY NETWORK
In April 1999, the Los Angeles Lakers finally cut ties with Dennis Rodman after just seven weeks with the team. The decision came amid a string of erratic behavior; Rodman was repeatedly late to practice (even missing sessions because he couldn’t find his socks and shoes), skipped multiple games, and at one point took an indefinite leave of absence.
Lakers coach Kurt Rambis reportedly kicked him out of practice, emphatically declaring that the team had “reached the point” of no return. A three-game leave of absence essentially forced Rodman out of L.A., and he was waived shortly after.
10. Carlos Boozer
April 7, 2013; Auburn Hills, MI, USA; Chicago Bulls power forward Carlos Boozer (5) shoots the ball in the first quarter against the Detroit Pistons at The Palace. Mandatory Credit: Rick Osentoski-Imagn Images
Mandatory Credit: Rick Osentoski-Imagn Images
In July 2014, the Chicago Bulls pulled a savvy financial move by using the NBA’s one-time amnesty provision on Carlos Boozer’s hefty $16.8 million salary. This strategic release didn’t affect Boozer’s paycheck since the Bulls still owed him the full amount for 2014-15, but it did wipe his salary from their luxury-tax and cap calculations, freeing space to land Pau Gasol and Nikola Mirotic.
Boozer was quickly claimed off waivers by the Los Angeles Lakers, who picked up the tab for just a fraction of his remaining salary. This was a win-win: the Bulls got salary relief, Boozer got paid, and the Lakers got veteran depth without breaking the bank.
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