Johnson was waived by the Grizzlies on Friday and his contract may be stretched over three years at a minimum cap hit, Michael Wallace of the Grizzlies' official site reports.

Johnson was traded from the Magic to the Grizzlies in late July in exchange for Jarell Martin and cash. However, it appears Grizzlies brass would rather have the roster spot. Johnson should still at least be able to find a G-League contract, as he averaged 23.3 points, 10.0 rebounds and 1.2 blocks as a member of the Oklahoma City Blue last season.

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