After being busted for possession of marijuana in August, the Phoenix Suns will reportedly release Michael Beasley later this week and he will become a free agent. Beasley signed a three-year deal with Phoenix worth $18 million last summer.
According to Marc Stein of ESPN.com:
Michael Beasley, the No. 2 overall pick in the 2008 draft, is on course to be a free agent by the end of this week, sources close to the process told ESPN.com.
The Phoenix Suns are planning to release Beasley in the wake of his recent arrest on suspicion of marijuana possession, sources told ESPN.com, and are likely to officially make the move this week.
UPDATE: Michael Beasley was officially waived by the Phoenix Suns on the afternoon of September 3.
According to an official statement from the Suns:
“The Suns were devoted to Michael Beasley’s success in Phoenix,” said Suns President of Basketball Operations Lon Babby. “However, it is essential that we demand the highest standards of personal and professional conduct as we develop a championship culture. Today’s action reflects our commitment to those standards. The timing and nature of this, and all of our transactions, are based on the judgment of our Basketball leadership as to how best to achieve our singular goal of rebuilding an elite team.”