Feb 21, 2025; Orlando, Florida, USA; Orlando Magic guard Cole Anthony (50) drives around Memphis Grizzlies forward Santi Aldama (7) during the second quarter at Kia Center. Mandatory Credit: Mike Watters-Imagn Images Mike Watters-Imagn Images

Grizzlies Agree to Buyout With Five-Year NBA Veteran

Originally posted on Memphis Grizzlies on SI
By Austin Veazey | Last updated Jul 12, 2025 9:04 PM ET

The Memphis Grizzlies made a surprising trade about a month ago, sending Desmond Bane to the Orlando Magic for Kentavious Caldwell-Pope, Cole Anthony, and a haul of draft picks. They then used a few of those draft picks to trade up and select Cedric Coward in the 2025 NBA Draft.

Memphis plans to keep Caldwell-Pope, as the team believes his championship experience can be vital for a team searching for a title. However, word got out quickly that the Gizzlies were looking to move on from Cole Anthony.

Michael McLoone-Imagn Images

The Grizzlies likely looked for a trade partner for Anthony, but he's set to make $13 million this season, and he wasn't good enough last year to demand that kind of contract.

Because of that, ESPN's NBA insider Shams Charania has reported that the Grizzlies have reached an agreement for a buyout with Anthony, allowing him to sign with the Milwaukee Bucks once he clears waivers.

Cole Anthony has agreed to a contract buyout with the Memphis Grizzlies and plans to sign with the Milwaukee Bucks after he clears waivers, sources tell ESPN. Grizzlies finalized the buyout with Jeff Schwartz and Javon Phillips of Excel Sports for Anthony's new opportunity. pic.twitter.com/HnCsmxaqcz
— Shams Charania (@ShamsCharania) July 13, 2025

Anthony averaged 9.4 PPG last season in a bigger role than expected due to a lot of injuries to the Magic. He had one of his most efficient seasons since he's been in the NBA, but the former UNC Tar Heel hasn't been as good of a playmaker as a team would need from him.

Memphis' backcourt has gotten crowded with the addition of Ty Jerome and the improvement of Scotty Pippen Jr., so there weren't going to be many minutes available for Anthony had he staye don the team.

Cole Anthony will have plenty of opportunities with the Bucks, who don't have much guard play currently. They brought back Ryan Rollins after waiving Damian Lillard, but they could actually use someone like Anthony, who can create his own shot.

This article first appeared on Memphis Grizzlies on SI and was syndicated with permission.

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