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Entering the final day of roster adjustments, Memphis held 17 players on standard contracts alongside three two-way deals. With 16 of those standard contracts already guaranteed, the organization faced the necessity of trimming its numbers to comply with league regulations. The move to waive both Clayton and Peavy provides the team with the required flexibility to move forward into the new campaign.
Background on the Departed Players
Walter Clayton Jr. joined the Memphis organization on February 3 as part of a significant eight-player trade with the Utah Jazz. That transaction saw Jaren Jackson Jr., Jock Landale, John Konchar, and Vince Williams Jr. move to Utah. Following the trade, Clayton featured in 24 games for the Grizzlies, recording averages of 9.7 points, 2.1 rebounds, and 5.7 assists per contest. During that stretch, he demonstrated his perimeter threat by connecting on 36.6% of his attempts from beyond the arc.
Micah Peavy, who entered the league as the 40th overall selection in the 2025 NBA Draft, departs the franchise after a rookie season spent primarily with the New Orleans Pelicans. During his time in New Orleans, Peavy appeared in 61 games, including four starts, where he contributed 4.3 points, 1.9 rebounds, and one assist per game. The Grizzlies had been refining their roster composition throughout the preseason, with other contract statuses, such as the $2.3 million salary of Jaylen Wells, becoming fully guaranteed on October 19.
