Stephen Graham has been waived by the Nets. Graham's contract would have become guaranteed if he were on the roster for New Jersey's season opener, so this saves some money for the team. With the signing of DeShawn Stevenson, it didn't make a lot of sense to keep Graham around.

The Nets have extended the deadline for deciding whether to guarantee Stephen Graham's contract for next season. The Nets now have until the day before the start of the season. That will give them a chance to see the new CBA rules and take a look at Graham in camp. They can keep the rugged Graham for $1.1 million.