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Report: Nuggets releasing Kostas Papanikolaou

Cleveland Cavaliers v Denver Nuggets

DENVER, CO - DECEMBER 29: Kostas Papanikolaou #16 of the Denver Nuggets controls the ball against the Cleveland Cavaliers at Pepsi Center on December 29, 2015 in Denver, Colorado. The Cavaliers defeated the Nuggets 93-87. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Doug Pensinger/Getty Images)

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The Nuggets have talked about waiving Kostas Papanikolaou. They’ve actually waived Papanikolaou.

And now, after re-signing him, they’re waiving Papanikolaou again.

Adrian Wojnarowski of Yahoo Sports:

When the Nuggets released Papanikolaou the first time, I was a bit surprised they could re-sign him to such a team-friendly contract (two years at the minimum with just $300,000 guaranteed this year). Apparently, there wasn’t much of a market for him. I doubt his limited playing time this season – 11.3 minutes per game – has changed that.

I don’t expect the Nuggets to have an immediate need for the additional cap room or roster spot. They just avoid Papanikolaou’s salary for this season becoming fully guaranteed, which would have happened if he weren’t waived by 5 p.m. today.

Now, Denver can explore signing players to 10-day contracts – maybe even Papanikolaou now that the Nuggets are no longer on the hook for his full-season salary. It might be just a matter of time until they drop him a third time.