SAN FRANCISCO (CBS SF) — The Golden State Warriors are waiving veteran guard Shaun Livingston, according to an ESPN report. ESPN Senior NBA Insider Adrian Wojnarowski announced the move in a tweet Tuesday evening.

Livingston, 33, first joined the Warriors in the summer of 2014. He was an immediate presence off the bench en route to the team’s first NBA championship in 40 years and throughout their historic five-year run.

Livingston re-signed with the team in July of 2017 on a three-year, $24 million contract. He is guaranteed $2 million of his $7.7 million salary in 2019, but the team will stretch out this $2 million over three years, according to Warriors writer Anthony Slater of the Athletic.

The Warriors, crunched for money after signing multiple free agents after Kevin Durant’s departure (which resulted in trading away Andre Iguodala, an undoubted Warriors star and fan favorite), likely traded Livingston in attempt to clear cap space and further fill out their roster. The team must remain under the tax apron of $138.9 million.

ESPN’s Bobby Marks said the move, as well as stretching out Livingston’s guaranteed salary, will save the Warriors over $1 million, which will help them stay under the tax apron.

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Livingston was drafted fourth overall in the 2004 NBA Draft by the LA Clippers. He suffered a horrific knee injury in 2007, which many thought would end his career. In an amazing comeback story, after bouncing around the league to over five different teams, Livingston eventually landed in the Bay, where he became a three-time NBA champion.

He still plans to continue playing, Wojnarowski said.

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