Memphis, Tenn. — The Memphis Grizzlies and veteran guard Kentavious Caldwell-Pope have formally agreed to a contract buyout, setting the stage for the 33-year-old to join the Philadelphia 76ers once he clears waivers, sources confirmed to ESPN on Saturday.

Caldwell-Pope, a two-time NBA champion, played only 51 games for the Grizzlies last season after being acquired in a trade from the Orlando Magic. He averaged 8.4 points and 21.9 minutes per game, well below his career norms, largely due to a finger injury that required surgery in February. The procedure ended his season prematurely, and he missed the final 31 games as Memphis pushed toward the playoffs without him.

The buyout gives Caldwell-Pope the freedom to choose his next destination, and all signs point to Philadelphia. The 76ers, who are looking to bolster their perimeter shooting and defensive versatility, see Caldwell-Pope as a reliable veteran presence who can slot into a supporting role alongside stars Joel Embiid and Tyrese Maxey. His ability to guard multiple positions and knock down catch-and-shoot threes aligns well with the team’s needs.

Caldwell-Pope’s career has been defined by adaptability and resilience. He entered the league as the eighth overall pick by the Detroit Pistons in 2013 and quickly established himself as a rugged two-way guard. Over 13 seasons, he has played for Detroit, the Los Angeles Lakers, Washington Wizards, Denver Nuggets, Orlando Magic, and now the Grizzlies. His most notable accomplishments came in 2020, when he helped the Lakers capture the NBA title, and again in 2023, when he contributed to the Nuggets’ championship run. In both cases, his steady defense and timely shooting were critical assets.

For the Grizzlies, parting ways with Caldwell-Pope allows them to free up roster flexibility and reduce salary cap obligations. The team is in the midst of reshaping its supporting cast around Ja Morant, and the buyout gives Memphis a chance to explore younger or more cost-effective options. Caldwell-Pope’s departure also opens minutes for emerging guards on the roster.

Once waivers clear, Philadelphia will likely move quickly to finalize the signing. The 76ers are aiming to deepen their bench ahead of the trade deadline, and Caldwell-Pope’s experience playing in high-pressure playoff environments is seen as a significant asset. He has appeared in 120 playoff games over his career, including 22 starts, and has shot 37.4% from three-point range in postseason play.

Caldwell-Pope’s journey has been marked by durability — he has played 963 regular-season games — though injuries have slowed him in recent years. The finger surgery was a setback, but he is expected to be fully recovered by the start of the upcoming season. In Philadelphia, he will likely be asked to defend the opponent’s best perimeter scorer while providing floor spacing on offense.

The move also reunites Caldwell-Pope with a familiar organizational structure. The 76ers’ front office and coaching staff have valued veteran leadership, and his championship pedigree should resonate in a locker room eager to make a deep postseason run. For a player who has never shied away from the big stage, the buyout and subsequent signing represent another chapter in a career built on winning.

As the NBA offseason continues to churn, the addition of Caldwell-Pope could prove to be a low-risk, high-reward move for Philadelphia. The 76ers are betting that his playoff savvy and defensive instincts will translate immediately, while the Grizzlies move forward with a cleaner slate and renewed focus on their young core.