The Phoenix Suns and Tyson Chandler have reached an agreement to buy out the veteran center’s contract. Chandler has now been officially waived.

According to the Arizona Republic, “Chandler is in the final year of a four-year deal in which he is guaranteed to make $13.6 million.”

“We want to thank Tyson for his contributions to the Suns over the past three-plus seasons,” said Vice President of Basketball Operations James Jones. “With respect for Tyson’s accomplished career, today’s move gives him the chance to pursue a new opportunity while allowing our younger players to continue developing. Tyson is a consummate professional and we wish him all the best.”

“I am grateful for my time in Phoenix and want to thank my teammates, my coaches, the front office and the fans for an amazing experience.” said Chandler. “I wish them the best and I am excited for the next stage in my career.”

More from the Arizona Republic: “ESPN is reporting Chandler plans to sign with the Los Angeles Lakers after clearing waivers with the Suns. The 7-footer is from Compton, Calif.”

Chandler initially signed with the Suns as a free agent on July 9, 2015, and played in four seasons with the club. He averaged 7.2 points and 9.5 rebounds while shooting 62.8 percent from the field in 166 games during his time in Phoenix. On Jan. 23, 2016, Chandler tied the Suns’ single-game record with 27 rebounds vs. Atlanta, matching Paul Silas’ mark which had stood untouched for over 45 years.