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The Nuggets agreed Sunday with McRae on a buyout, Adrian Wojnarowski of ESPN reports. The guard will be exposed to waivers and is expected to be claimed by the Suns.

The Nuggets acquired McRae on Feb. 6 ostensibly to improve their backcourt depth, but Denver will quickly write the 28-year-old off as a sunk cost. After McRae saw action in just four games following his acquisition from the Wizards and didn't have a real path to a rotation spot moving forward, the Nuggets will do him a favor by cutting him loose and affording him the opportunity to find playing time elsewhere before he hits free agency this summer. Though he no longer finds himself on a contending team, McRae should provide the Suns with a much-needed scoring presence off the bench. Expect McRae's move to Phoenix to become official within the next few days, assuming no team ahead of the Suns in the waiver order puts in a claim for the 6-foot-5 guard.

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