The Brooklyn Nets have waived guard Archie Goodwin, according to a report by Tim Bontemps of The Washington Post.

The move gives the Nets $5.1 million in salary cap space without including the Randy Foye cap hold. The Nets now have 13 guaranteed and one non-guaranteed contract, still boasting a $4.3 million mid-level exception available for further acquisitions, according to ESPN Insider Bobby Marks.

Goodwin found himself as the fourth shooting guard in the Nets' rotation after the newly-acquired D'Angelo Russell, who is likely to be deployed as the off guard, second-year gun Caris LeVert and Sean Kilpatrick.

The 22-year-old had the best stint of his career with Brooklyn after splitting the season between the Nets and the New Orleans Pelicans after three seasons with the Phoenix Suns.

He shot an impressive 55.7 percent from the field through 12 games with the team, averaging 7.9 points, 2.3 rebounds, and 1.9 assists on 15.3 minutes per game.

Goodwin will need to improve his perimeter shooting to stick with a roster for the entire season, making only 23.6 percent of his shots from beyond the arc in his career.

A 6-foot-5 and 205-pound versatile guard, the Kentucky product could thrive in an offense in need of transition, given his physical gifts, but the long-term shelf life of his NBA career will greatly revolve around how fast he can improve his perimeter game.