The Golden State Warriors waived forward Julian Washburn, the team announced on Wednesday.

Washburn, 27, was acquired by Golden State in a trade earlier this month with the Memphis Grizzlies that sent Andre Iguodala and a future first-round pick to the Memphis Grizzlies.

The Warriors needed to shed salary after agreeing to a sign-and-trade with the Brooklyn Nets for D'Angelo Russell, and after already losing out on Kevin Durant, deemed the 2014 Finals MVP expendable due to the reality of their shift in status from championship favorites to playoff hopefuls. Golden State also created a $17 million trade exception in the deal, which along with Russell give general manager Bob Myers some much-needed flexibility as his hard-capped team scrapes their spending limit.

Undrafted out of the University of Texas at El Paso in 2015, Washburn signed a two-way deal with the Grizzlies on January 15 after spending the first half of the G-League season with the Austin Spurs. In 38 G-League appearances last season split between Austin and Memphis, he averaged 11.6 points and 5.3 rebounds, shooting 41.1 percent from three-point range on 4.2 attempts per game.

Washburn appeared in six games with the Grizzlies before the All-Star break before playing in the team's last 11 games of the regular season. He averaged 2.2 points and 2.3 rebounds in 14.1 minutes per game for Memphis, shooting 33.3 percent overall and 5-of-24 from beyond the arc.

Despite his recent NBA struggles, don't be surprised if Washburn is soon given another look on a two-way or Exhibit 10 contract. At 6-foot-8 with a proven track record of proficiency from beyond the arc, he could be a useful deep reserve for a team in need of depth and shooting at both forward spots.