MEMPHIS, Tenn. — The Memphis Grizzlies have waived Jerry Stackhouse, just a day after acquiring the NBA veteran in a four-team, eight-player trade.

General Manager and Vice President of Basketball Operations Chris Wallace announced the move Friday after Thursday's blockbuster deal involving the Grizzlies, Dallas Mavericks, Toronto Raptors and Orlando Magic.

As part of the trade, Grizzlies guard Greg Buckner was sent to Dallas, and the Grizzlies also received a second-round pick and cash from Toronto and cash from Dallas.

The 34-year-old Stackhouse was due more than $7 million with the Mavericks next season, but his contract could be bought out for $2 million — likely the amount of cash Memphis received in the trade.