The Charlotte Hornets are waiving former No. 8 pick Rob Dillingham, sources told ESPN's Shams Charania on Monday.
The news comes just one day after the Hornets acquired Dillingham from the Chicago Bulls in exchange for Buddy Hield and cash.
Dillingham, 21, will be looking to join his third team in two years after he was traded from Minnesota to Chicago midway through last season and then again from Chicago to Charlotte.
The Hornets created a $9.6 million trade exception with the deal as well as got Hield's multiyear contract off their books.
It's been a rocky road for Dillingham since the Timberwolves traded two future first round picks to move up in the 2024 draft and select the Kentucky product with the No. 8 pick.
The 6-foot-2 point guard struggled to break into Chris Finch's regular rotation with the Timberwolves and never eclipsed 15 minutes per game for the team in two-plus years.
Dillingham appeared in 30 games for the Bulls and averaged 9.6 points and 2.8 assists while shooting 42.8% from the field.