On Thursday, the Nets announced they are waiving Shumpert even though they are 9-4 with him in the lineup.
Shams Charania of The Athletic and Stadium first reported the news. Charania noted the move is being done "reluctantly" and because of full roster guarantees.
Shumpert helped keep the Nets afloat with Kyrie Irving sidelined because of a shoulder injury.
As Alex Schiffer of The Athletic pointed out, the Nets had to make a move with Wilson Chandler's pending return from suspension giving them a full roster.
Shlomo Sprung of Forbes provided additional context for the decision:
Shumpert is averaging 4.2 points and 2.6 rebounds a night this season. While the numbers don't jump out, his biggest impact has come on the defensive side of the ball as a versatile player who can defend guards or small forwards.
Opponents are shooting two percent worse than their normal averages when he defends them, per NBA.com. What's more, Brooklyn's defensive rating is 106.2 when he's on the court and 106.9 when he is off it.
It has taken a group effort from the Nets to remain in the playoff picture without Irving, who has not played since a Nov. 14 loss to the Denver Nuggets. Brooklyn is 9-4 without him and 4-7 with him and sits in the No. 7 seed in the Eastern Conference standings because of the role players who have played well during his absence.
Shumpert was a part of that, and he could eventually find himself on a different team after playing for the New York Knicks, Cleveland Cavaliers, Houston Rockets and Sacramento Kings earlier in his career.