The Toronto Raptors have agreed to trade veteran point guard Dennis Schroder and veteran Thaddeus Young to the Brooklyn Nets in exchange for Spencer Dinwiddie.

But Dinwiddie won't suit up for the Raptors.

Dinwiddie is being waived by the team in order to avoid paying out a games-played contract bonus, per Shams Charania of The Athletic:

“To avoid a $1.5M upcoming contract bonus for games played, the Toronto Raptors are planning to waive Spencer Dinwiddie, sources tell @TheAthletic @Stadium. Major new entry to the NBA’s buyout market who will be coveted by several playoff teams.”

With the Raptors waiving Dinwiddie, he immediately becomes one of the top available players on the buyout market.

Before being acquired by the Raptors, Dinwiddie was averaging 12.6 points, 3.3 rebounds, and 6.9 assists for the Nets this season.

Now in his 10th season, Dinwiddie has averaged 13.6 points per game for the Detroit Pistons, Brooklyn Nets, Washington Wizards, and Dallas Mavericks.

The day before being waived by the Raptors, Dinwiddie denied rumors that he may be bought out if the Nets were unable trade him ahead of Thursday's deadline.

“Lol I understand y’all mad at me right now. But this ain’t true,” said Dinwiddie.

The 30-year-old had taken a backseat to Mikal Bridges and Cam Thomas, who are both attempting career-highs in shots per game over the last month. However, the degree to which Dinwiddie has faded into the background after he was among the NBA's most productive passers late last season and early this year has been glaring.