The Orlando Magic have waived veteran guard Jameer Nelson.
The move, announced on Monday, ends the run of the Magic's longest-tenured player at 10 seasons.
Nelson was selected by Denver 20th overall in the first round of the 2004 draft, but was acquired by Orlando in exchange for a future first round pick on draft night.
He played in 651 regular season games in Orlando with 556 starts, averaging 12.6 points and 5.4 assists, and posting one All-Star season in 2009.
Nelson was entering the final year of a three-year contract, but had only $2 million of the $8 million remaining guaranteed. By waiving Nelson before July 16 the Magic are saving valued salary cap space.
He could re-sign with the Magic, but he's expected to garner free agency interest.