12:28 pm: The move is official, according to a Hornets press release.
12:08 pm: Just three months after signing a guaranteed contract with the Hornets as a free agent, veteran point guard Spencer Dinwiddie is being waived, according to Shams Charania of ESPN (Twitter link).
Dinwiddie agreed to terms with Charlotte early in free agency on a one-year, minimum-salary deal and officially finalized that agreement on July 13. Because his salary was guaranteed, the 32-year-old will still receive his full $3,634,153, while the Hornets will carry $2,296,274 in dead money on their cap, assuming Dinwiddie goes unclaimed on waivers.
An 11-year NBA veteran, Dinwiddie played a more significant role than expected in Dallas last season due to the Luka Doncic trade and a series of injuries affecting guards like Kyrie Irving and Dante Exum. He was one of the only Mavericks players who made it through the season without dealing with any major health issues.
In 79 games (30 starts), Dinwiddie averaged 11.0 points, 4.4 assists, and 2.4 rebounds in 27.0 minutes per night, with a shooting line of .416/.334/.802. All of those numbers were in the ballpark of his career rates.
The Hornets’ decision to sign Dinwiddie in July was a little curious, given that the team had already traded for Collin Sexton and agreed to re-sign Tre Mann at that point in the offseason. It appeared the front office was making it a priority to load up on point guard depth after Mann and starter LaMelo Ball missed significant time last season due to injuries.
However, facing a roster crunch this fall and with Ball and Mann both healthy, the Hornets decided that Dinwiddie was the odd man out. He registered six points and six assists in 30 total minutes across two preseason games with the club — Charlotte was outscored by 20 points in those 30 minutes.
Once Dinwiddie is officially placed on waivers, the Hornets will have 14 players on guaranteed contracts, plus center Moussa Diabate on a non-guaranteed deal. There had been speculation that Pat Connaughton would be the roster casualty in Charlotte, but unless more moves are coming in the next few days, it looks like the former Buck is now on track to make the team’s regular season roster.