Report: Grizzlies waive former MVP Rose

Memphis Grizzlies are cutting Derrick Rose from their roster, according to sources. Shams Charania from The Athletic.

Rose signed a two-year contract with Memphis ahead of the 2023-24 season. According to Spotrac, he was guaranteed a $3.4 million salary for the 2024-25 season.

Rose is expected to provide an update on his career this week, sources told SNY’s Ian Begley, who also reports that the Grizzlies have agreed to terms on the veteran point guard’s contract.

The 35-year-old averaged eight points per game, 3.3 assists and 1.9 rebounds in 24 appearances for the Grizzlies last season. He battled a number of injuries, including a back injury that ended his campaign more than a month into the regular season. He also missed weeks in December and January with a lingering left hamstring injury.

Rose, the No. 1 overall pick in the 2008 draft, spent his college career at Memphis and had a standout freshman season with the Tigers in 2007-08.