Washington Wizards President Ernie Grunfeld announced today that the team has waived center Zydrunas Ilgauskas after coming to a mutual agreement on a contract buyout.
“We agreed to terms with Zydrunas on a contract buyout, giving us further financial flexibility and allowing our young big men to continue to develop over the remainder of the season,” said Grunfeld.
Ilgauskas was originally acquired from the Cleveland Cavaliers along with a 2010 first round pick and the rights to Emir Preldzic as part of a three-team deal in which they also acquired Al Thornton from the Los Angeles Clippers while sending Antawn Jamison to Cleveland and Drew Gooden to Los Angeles (the Clippers sent Sebastian Telfair to Cleveland to complete the trade).