Derrick Rose Waives $3.3M Salary After Being Released by Grizzlies

Veteran point guard Derrick Rose has made headlines after waiving his entire $3.36 million salary for the 2024-25 NBA season following his release from the Memphis Grizzlies. The decision, reportedly initiated by Rose himself, helps the Grizzlies avoid a cap hit as they work to stay under the luxury tax threshold.

(Chris Day/The Commercial Appeal)

By waiving Rose’s salary, the Grizzlies clear their payroll and open up about $5.98 million in cap space. This added financial flexibility allows Memphis to explore potential roster moves while keeping future options open for the remainder of the season.

Rose, a three-time NBA All-Star and the 2010-11 MVP during his time with the Chicago Bulls, played 24 games for the Grizzlies last season, averaging 8.0 points and 3.3 assists. Despite being hampered by injuries throughout his career, Rose has maintained a reputation as a valuable asset, averaging 17.4 points and 5.2 assists per game over his time with six NBA teams.

This move marks a significant turning point in Rose’s career, as he continues to weigh his options for the future. His departure from Memphis opens the door for both the player and the franchise to reset and focus on their respective goals for the upcoming season.