The Miami Heat announced today that they have traded guard Shaun Livingston and cash considerations to the Memphis Grizzles for a 2012 conditional second round draft pick.

UPDATE: Mere minutes after making this trade, the Grizzlies waived Livingston.

In four games this season, Livingston averaged 2.3 points and 1.0 assists in 10.3 minutes. The 6’7” guard signed with the HEAT as a free agent on October 3, 2008. He was originally drafted by the Los Angeles Clippers with the fourth overall pick in the 2004 NBA Draft.

Over the last few days there were several local Miami reports suggesting the team was set to waive/release Livingston, rather than trade him.

With Mike Conley, Kyle Lowry and oversized point guard Marko Jaric the Grizzlies are overloaded at the position. It’ll be interesting to see how long the team holds on to Livingston. So far he’s been unable to show full recovery from injury.

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–InsideHoops.com editor Jeff Lenchiner