It was revealed yesterday that Metta World Peace and the New York Knicks were close to agreeing a contract buy out which would release MWP from the franchise.
And now reports suggest the deal is complete.
Various sources reported that the player had left the franchise Monday. And Metta World Peace took to Twitter this afternoon to announce the latest development:
"Thanks NYC for having me. Just signed my papers for waiver from my favorite team as a kid, The Knicks," he told his followers.
The ex-Laker has only been with the New York team since July 2013, but after signing a two-year deal last year it seems the two sides have come to an agreement to part company.
The deal is a fairly sensible one, with the Knicks looking to secure salary space ahead of future investment to rescue a failing season.
While the 2010 NBA Champion is likely to want to be challenging at the business end of the season as he approaches 35 years of age, and has previously voiced his frustration with a lack of playing time in New York.
Beno Udrih has also been waived in the move by the Knicks.
As for MWP's future? Well rumor has it the LA Clippers are interested.