The Kings waived point guard Frank Mason III on Thursday, the team announced

Mason thanked the Kings for "making his dreams come true" after the news was released. 

Mason will remain on the Kings' Las Vegas Summer League team. However, he's now free to sign a contract with any other club. 

The Kings had until Oct. 15 for Mason's $1.6 million team option to become guaranteed. By waiving him, that money is now off the books. 

Sacramento selected the former Kansas University standout in the second round of the 2017 NBA Draft. Over two seasons as a King, Mason averaged 6.8 points and 2.6 assists per game. 

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Mason's scoring dropped from 7.9 points per game as a rookie to 5.1 last season. He significantly struggled shooting beyond the arc, making only 21.9 percent of his 3-pointers last year.

The Kings depth chart at point guard now consists of De'Aaron Fox, Cory Joseph, Yogi Ferrell and Kyle Guy.