The Toronto Raptors waived point guard Lorenzo Brown on Monday, saving themselves about $800,000 (and more in luxury taxes).
Toronto has waived guard Lorenzo Brown, league source tells ESPN. His contract would've become guaranteed for season later today.
— Adrian Wojnarowski (@wojespn) January 7, 2019
Brown signed $1.6 million contract this past summer; only $800,000 of it was guaranteed, and the guarantee date for the remaining $800,000 was today, January 7, at 5:00 p.m.
With three healthy point guards and a cap sheet stretching into the aforementioned tax, the Raptors clearly felt it made more sense to save that $800K now and maintain some more roster flexibility for the rest of the year.