Francis headed for free agency after Blazers buyout

"This move will provide us greater financial flexibility as we continue to build a successful team for years to come," said Blazers general manager Kevin Pritchard.

Francis was traded to Portland from the New York Knicks along with Channing Frye in exchange for Zach Randolph, Dan Dickau and Fred Jones in a draft night trade on June 28. The Trail Blazers reportedly bought out the remaining two years of Francis’ contract for almost the full price, paying more than $30 million of the $34 million owed to Francis over the next two years.

The former All-Star will become a free agent after he clears waivers next week. Francis averaged a career-low 11.3 points per game in New York last season, well below his career average of 18.4 points per game.