A three-team trade just prior to Thursday's NBA trade deadline saw Iguodala, Jae Crowder and Solomon Hill sent by Memphis to the Miami Heat, who gave the Grizzlies Justise Winslow, Dion Waiters and James Johnson in exchange. Johnson was subsequently traded to the Minnesota Timberwolves.
The Grizzlies announced Sunday that Waiters has now been waived. Shams Charania of The Athletic and Stadium reported the 28-year-old guard will still be paid in full for this season and next season. Per Spotrac, Waiters is owed $12.1 million this season and $12.65 million for 2020-21.
Iguodala was traded to Memphis last summer by the Golden State Warriors, but the three-time NBA champion never played for the Grizzlies. The reported icy relationship between Iguodala and the Grizzlies was well-documented. However, the end of Waiters' tenure in Miami was much rockier.
The first suspension caused Waiters to miss the Heat's Oct. 23 regular-season opener after a disagreement with head coach Erik Spoelstra in the preseason over being used off the bench.
On Nov. 10, Waiters was hit with a 10-game suspension for what the Heat cited as conduct detrimental to the team following what ESPN's Adrian Wojnarowski and Brian Windhorst reported to be "a 'panic attack' on the team's charter flight [Nov. 7] after consuming a THC-infused edible."
The third suspension was for six games in mid-December. The Miami Herald's Barry Jackson reported that it stemmed from Waiters "posting Instagram pictures of himself on a boat during a period last week when he told the team he was unable to practice or play because of an illness."
"At the end of the day, I'm a grown man," Waiters told reporters on Jan. 26. "I don't point fingers. I could easily say this or that, but at the end of the day, it's me. I made certain decisions, so I take full responsibility for them."
The 2012 fourth overall pick added: "I didn't feel like I lost anything—besides my money—but it'll come back around. Going through that and being able to just stay myself, stay sane, it taught me a lot about myself. I knew I was mentally tough because of my upbringing. But that right there, it's going to try you and test you."
Waiters finally made his 2019-20 regular-season debut on Jan. 24. Prior to the Heat moving him, he averaged 9.3 points, 3.7 rebounds and 1.0 assists in 14.0 minutes across three games.