The Grizzlies Waive 2011 MVP Derrick Rose

According to renowned NBA reporter Shams Charania, the Memphis Grizzlies have waived the 2008 No. 1 overall pick and 2011 NBA MVP, Derrick Rose.

Previously, Rose signed a fully guaranteed two-year, $6.5 million contract with the Grizzlies in 2023, with $3.36 million for the 2024-25 season. During the 2023-24 season, Rose appeared in 24 games for the Grizzlies, averaging 16.6 minutes per game, contributing 8.0 points, 1.9 rebounds, and 3.2 assists per game, with a shooting percentage of 46.1%, a three-point percentage of 36.6%, and a free throw percentage of 88.9%.

Following this report, Knicks and Nets beat reporter Ian Begley provided an update on the matter, writing on his personal social media: "Memphis is parting ways with Rose, and league sources have confirmed the incident, as it is technically accurate. However, it's important to note that the Grizzlies allowed Rose to opt out, which is a key distinction, as Rose wanted to leave. Rose is expected to announce his next move later this week."