Wood was waived by the Bucks on Monday, Chris Haynes of Yahoo Sports reports.

Wood was waived in order to create a roster spot for the signing of Tim Frazier, who was brought in for additional frontcourt depth following the Malcolm Brogdon foot injury. It was surely a tough move for Milwaukee, as Wood has shown plenty of promise with his dominance in the G League and appeared to be on the verge of getting a real shot in the NBA. However, with that said, Wood should now have plenty of suitors upon hitting the open market, but it's worth noting that he will not be playoff-eligible.

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