Mavericks waive point guard Deron Williams

The Dallas Mavericks have parted ways with point guard Deron Williams, waiving him on Thursday, the team announced.

Reports by ESPN.com’s Tim MacMahon and others noted that the two sides were working towards a contract buyout minutes after Thursday’s trade deadline expired at 2 p.m. CT. Williams signed a one-year, $9 million deal this past summer.

With the Mavericks parting ways with Williams, they have made it clear that undrafted rookie Yogi Ferrell will get the reigns as the team’s starting point guard for the foreseeable future. MacMahon reported Dallas plans on looking at more point guards on 10-day deals while J.J. Barea sits the next three games as he recovers from his calf injury.

Williams was one of two Dallas players expected to be shopped at the deadline. Andrew Bogut was the other, and he was traded to Philadelphia early Thursday, along with Justin Anderson, for 22-year-old Nerlens Noel.

It appeared the Mavericks were close on a deal for Williams at one point, possibly with the Utah Jazz, but Adrian Wojnarowski of The Vertical reported late Wednesday night that the Mavericks were asking too much for the Dallas native. Williams was also not at Dallas practice on Thursday morning, heightening implications he would be dealt.

But with no deal imminent and no buyout able to be reached, the Mavericks waived Williams, allowing him to pursue potential playoff opportunities. The most likely destination in a buyout, per TNT’s David Aldridge and others, would be the Cleveland Cavaliers. That may still be the likely destination; however, we’ll have to see if any other team makes a waiver claim at this point.

It’s a shame the Mavericks couldn’t find some value back for him, but they’re confident enough in Yogi to make this point guard thing work. Hopefully Williams finds a spot with the Cavs or on another roster competing for a championship. He deserves it.