http://sports.excite.com/news/10302006/v1862.html

Knicks Waive Jalen Rose

Oct 30, 5:58 PM (ET)

NEW YORK (AP) -Jalen Rose was waived Monday by the New York Knicks, leaving their roster one below the regular-season maximum of 15.
The 6-foot-8 guard/forward, a 12-year NBA veteran, was scheduled to make $16.9 million this season.

The 33-year-old Rose averaged 12.7 points in 26 games for the Knicks last season after being acquired in a February trade with the Toronto Raptors. But there didn't appear to be a place for him this season after New York signed swingman Jared Jeffries over the summer and drafted Renaldo Balkman with its first pick.

Rose was a nonfactor in the preseason, playing in only four games and going scoreless in 31 minutes.

With Jeffries hurt, Quentin Richardson will likely start at small forward, with Balkman backing him up. New York opens the regular season at Memphis on Wednesday.

Rose becomes the second New York player with an expensive, expiring contract to leave during the preseason. The Knicks previously waived forward Maurice Taylor, who has since joined the Sacramento Kings.
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Word was they were trying to buy him out. I guess he wanted all his money if they waived him.

Then again maybe they bought him out then waived him. more likely because they have an extra roster spot.