Bucks buy out Caron Butler

Milwaukee, WI (SportsNetwork.com) - The Milwaukee Bucks have placed Caron Butler on waivers after reaching an agreement with the veteran forward to buy out the remainder of his contract.

If Butler is not claimed during the 48-hour waiver period, he will be free to sign with any team. The 12-year pro is expected to draw interest from several contenders due to his experience and solid production this season.

Butler is averaging 11.0 points and 4.6 rebounds in 34 games this season, his first with the Bucks. The Wisconsin native was acquired by Milwaukee from Phoenix in late August in exchange for guard Ish Smith and center Viacheslav Kravtsov.

"It's been a dream come true to wear the Milwaukee uniform which so many of my idols growing up wore," Butler said. "I'd like to thank Sen. Herb Kohl, John Hammond and Larry Drew for the opportunity to live out my dream of playing for the Bucks. The entire organization has treated me and my family in a first- class manner that we will never forget. I would be remiss if I didn't also thank the great fans of Milwaukee, Racine and the entire state of Wisconsin for always standing with us during a challenging season. Thank you all from the bottom of my heart."

A two-time All-Star, Butler has averaged 15.3 points, 5.4 rebounds and 2.5 assists over 764 regular-season games with six different teams (Miami, Los Angeles Lakers, Washington, Dallas, Los Angeles Clippers, Milwaukee). The 33- year-old was part of the Mavericks' 2011 NBA title run.

The Bucks presently own the league's worst record at 11-45.