The Nets have waive newly-acquired shooting guard Marcus Thornton, the team announced Thursday.
Thornton, who played for the Nets in 2013-2014, was one of two players Brooklyn received in Wednesday's trade with Washington, along with a lottery-protected first round pick.
The 29-year old veteran is working on an expiring contract, a $980,000 vets minimum deal. In 33 games this season, Thornton is averaging 6.6 points, 2.3 rebounds, and 1.2 assists in 17.4 minutes per game.
Following the trade, the Nets had around $13 million in cap space, and are still $4.2 million below the salary cap floor.
In addition, details of the lottery protections on the first round pick Brooklyn will receive from Wednesday's trade have been reported. Per RealGM, Washington's first round pick to the Nets is lottery protected from 2017 through 2021, and 1-10 protected in 2022. If Brooklyn has still not received the pick by 2022, the pick will become second round picks.