Jack (knee) was waived by the Nets on Thursday, Mike Mazzeo of ESPN.com reports.

EDGE Analysis

By cutting the veteran point guard loose, the Nets will only have to pay $500,000 of the $6 million he was scheduled to make. The 32-year-old tore his right ACL in early January, ending his season after 32 games. Before the season-ending injury, he averaged 12.8 points, 7.4 assists, 4.3 rebounds, 1.1 steals, and 0.2 blocks in 32 minutes per game as the Nets' starting point guard. Jack could draw the attention of several teams looking to add a veteran presence off the bench but his questionable health status could deter teams from bringing him on until he is fully healed, which may not be until October.