The Memphis Grizzlies waived guard/forward Jerry Stackhouse, Grizzlies General Manager and Vice President of Basketball Operations Chris Wallace announced today.

The 6-6, 218 pound swingman was acquired on July 9 as part of a four-team, eight-player trade also involving the Dallas Mavericks, Toronto Raptors and Orlando Magic.

The 13-year NBA veteran averaged 4.2 points, 1.7 rebounds and 1.2 assists in 16.2 minutes in 10 games (one start) last season, his fifth with the Mavericks.  The two-time All-Star (2000, 2001) holds career averages of 18.4 points, 3.4 rebounds and 3.7 assists in 33.4 minutes in 854 games (563 starts) with the Mavericks, the Washington Wizards, the Detroit Pistons and the Philadelphia 76ers.

The Memphis Commercial Appeal reports: Stackhouse was due more than $7 million with the Mavericks next season. The Griz received enough money in the deal to buy out the $2 million Stackhouse is guaranteed in 2009-10.