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Jones was waived by the Cavaliers on Saturday, ESPN.com reports.

Jones' salary for the 2016-17 season was set to become fully guaranteed Monday, so the Cavaliers opted to release him to increase their roster flexibility for the future. The two sides reportedly do have some mutual interest to bring Jones back into the fold, but we'll likely have to wait at least a few weeks for the Cavaliers to evaluate their other options. Jones saw action in just one regular season game this past year, so he'd likely return as a veteran bench presence again in a similar role.

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