The Golden State Warriors have waived guard Chris Paul, who had a Sunday deadline to guarantee his $30 million salary for this season, the team announced.
Paul now becomes an unrestricted free agent.
Paul, a 12-time NBA All-Star, came off the bench for the first time in his decorated career last season, accepting a reduced role with the Warriors. He averaged 9.2 points and 6.8 assists in 26.4 minutes.
The 39-year-old veteran was acquired for Jordan Poole last summer -- a move that now equates to a salary dump, as Paul's contract is coming off the books for nothing.
The Warriors initially pushed Paul's guarantee date so they could explore trade opportunities, but nothing materialized.
In addition to shedding that salary, the Warriors are likely to be without Klay Thompson next season, who is an unrestricted free agent and is increasingly unlikely to resign with his team for the past 13 seasons. This leaves the Warriors with $147.2 million in committed salary for next season, and they enter free agency as a non-taxpaying midlevel team.
They'll have the $12.8 million midlevel exception and biannual exception to use on free agent signings.
Meanwhile, Thompson plans on having discussions with the Dallas Mavericks, Los Angeles Lakers, Los Angeles Clippers and Philadelphia 76ers in the opening hours of free agency, sources told ESPN's Adrian Wojnarowski.
Thompson's tenure with the Warriors approaches its end as relationships between the two parties fractured and contract negotiations never resumed after last summer.
Sources told ESPN that the midlevel exception the Lakers could offer him might not be enough to bring him to Los Angeles, but Thompson is open to listening to intriguing offers and opportunities.