76ers Waive Shooting Guard Hollis Thompson

The 76ers will waive fourth-year shooting guard Hollis Thompson, according to a source with knowledge of the situation.

The Sixers will pick up the team option for 2016-17 on Hollis Thompson's contract, according to multiple sources | Bill Streicher-USA TODAY Sports

The 76ers will waive fourth-year forward Hollis Thompson, according to a league source. | Bill Streicher-USA TODAY Sports

The Philadelphia 76ers have decided to part ways with shooting guard Hollis Thompson, according to a league source.

Thompson is in the final year of a four-year contract signed in the summer of 2013. The 2016-17 season would have become fully guaranteed if he did not clear waivers by January 10th.

Thompson, a career 38.9 percent three-point shooter, is averaging 5.5 points and 2.7 rebounds in 18.1 minutes per game with the 76ers this season, the lowest amount of playing time he’s received over his four-year career. His playing time has been cut as a result of the offseason signing of veteran Gerald Henderson, as well as the recent emergence of rookie Timothe Luwawu-Cabarrot.

Thompson has career averages of 7.9 points and 3.1 rebounds per game, while shooting 41.7 percent from the field and 38.9 percent from three-point range over the course of his career. Thompson has appeared in 256 games in his NBA career, all with the 76ers, including 82 starts.

Thompson’s 357 made three-point shots with the 76ers ranks 7th on the team’s all-time list, behind Allen Iverson (885), Kyle Korver (661), Andre Iguodala (563), Hersey Hawkins (476), Robert Covington (387), and Lou Williams (373). His 38.9 percent three-point percentage ranks 6th on the 76ers all-time list, a mere 0.1 percent out of breaking into the top-5 in franchise history.

Thompson averaged 12.8 points and 5.5 rebounds per game during his final season at Georgetown, shooting 43 percent from three-point range. Thompson connected on 44 percent of his 291 three-point attempts during his college career.

Luwawu-Cabarrot stands to gain the most from the roster move, at least initially. The rookie out of France bounced between the 76ers and their D-League affiliate, the Delaware 87ers, for much of the early part of the season, but has seen more consistent playing time of late. Luwawu-Cabarrot has averaged 16 minutes per game over the 76ers last three games as veteran Gerald Henderson missed time due to a sore hip.

While Henderson is expected to return to the 76ers lineup shortly, the team would like to continue to give Luwawu-Cabarrot playing time to develop and evaluate what they have in him, according to a league source.

While the 76ers are expected to be active leading up to February 23rd’s trade deadline, the move does not necessarily signify that a deal is imminent.

The Sixers could use the roster spot to pursue more depth at the point guard position. Jerryd Bayless, signed in the offseason to be the team’s starter at the position, is out for the remainder of the season with a wrist injury.

In addition to that, Sergio Rodriguez, signed to be the backup point guard over the summer but who has been the starter for most of the season, has missed the last two games because of a left ankle sprain. That has left head coach Brett Brown starting second-year undrafted point guard T.J. McConnell, with Nik Stauskas getting minutes out of position as the backup point guard.

10-day contracts can be signed as of tomorrow, January 5th.

Should Thompson clear waivers, the 76ers will incur a cap hit of $442,000, according to Bobby Marks of Yahoo Sports’ The Vertical.

Hollis Thompson was the only remaining player on the roster who played with the 76ers during the 2013-14 season, head coach Brett Brown’s first with the team. That leaves Nerlens Noel as the longest tenured 76er and the only player from that team still on the roster. Noel sat out the entire season recovering from a torn anterior cruciate ligament.

The 76ers will begin a two game road trip Friday night in Boston.

Derek Bodner covers the 76ers for Philadelphia magazine. Follow @DerekBodnerNBA on Twitter.