Davies, 23, whose contract was not guaranteed had the Nets waived him prior to Wednesday's, January 7, deadline.
He played in seven games with the Nets and posted averages of 2.3 points, 1.4 rebounds and 0.3 assists in 6.3 minutes per game. This was his second season in the league.
Brooklyn does save money in this move, as well.
Waiving Davies sheds about $2 million off the Nets’ luxury tax bill.— devin kharpertian (@uuords) January 6, 2015
Three players on the roster remain with non-guaranteed contracts: Darius Morris, Cory Jefferson and Jerome Jordan. The Nets have until 5:00 PM on Wednesday to decide whether or not they will pick up their contracts for the remainder of the season. However, it's unlikely any of them will be dumped. Nor, reports Mike Scott of Sheridan Hoops, are they likely to add a player on a 10-day contract, at least for now.
<blockquote class="twitter-tweet" lang="en"><p>Source: The Brooklyn Nets are not expected to waive any other non-guaranteed players on the roster or add a player on a 10-day deal for now.</p>— Michael Scotto (@MikeAScotto) <a href="https://twitter.com/MikeAScotto/status/552523891131043840">January 6, 2015</a></blockquote>
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The Nets now have 14 players under contract and can, if they want, sign a player to a 10-day contract.