Knicks Waive Brandon Jennings - Signs With Wizards

[key2win]

Brandon Jennings waived by New York Knicks

The New York Knicks have waived point guard Brandon Jennings, the team announced Monday.

Jennings, 27, averaged 8.6 points and a team-high 4.9 assists in 24.6 minutes per game during his only season with the Knicks. He signed a one-year, $5 million contract during the offseason to back up Derrick Rose.

Jennings recently told New York (24-35) he wanted to play for a title contender, a source told The Undefeated's Marc J. Spears.

The Knicks looked into trading Jennings after the point guard expressed a desire to move on, sources told ESPN, but no deal emerged prior to the deadline.

Jennings, an eight-year veteran, has previously played for the Milwaukee Bucks, Detroit Pistons and Orlando Magic. He was an all-rookie first-team honoree with the Bucks in 2009-10.

[key2win]

Brandon Jennings agrees to sign with the Washington Wizards

Newly released free-agent point guard Brandon Jennings has reached a verbal agreement to join the Washington Wizards for the remainder of the season, league sources told ESPN.

The 6-1 guard notified the Wizards of his decision Tuesday afternoon, sources relayed to ESPN.

The New York Knicks released Jennings on Monday after the guard requested an out in order to play for a contending team.

Jennings can't officially sign his new deal until he clears waivers on Wednesday at 5 p.m. He will travel to Washington on Wednesday to complete his new deal.

Jennings, 27, will fill a dire need for the Wizards at the backup point guard position. Fourth-year point guard Trey Burke will eventually be demoted to third-string point guard. The team has 15 players on the roster and will need to waive a player to make room for Jennings.

At 34-23, the Wizards are currently the fourth seed in the Eastern Conference standings.

In 58 games for the Knicks this season, Jennings averaged 8.6 points and 4.9 assists while shooting 34 percent from 3-point range. This will be his fifth NBA team.