The Miami Heat informed forward Michael Beasley on Saturday night that it will not pick up the $1.3 million option for next season.
The Heat indicated that the decision to draft Justise Winslow was a major factor in the decision to part ways with Beasley.
"Michael has shown a lot of poise and maturity in coming back from China and battling back into the NBA and earning not only a position but a role where he could contribute, and the future for Michael is bright and his talent is still being developed," his agent, Jared Karnes, said by phone today.
There was no discussion of Beasley returning to the Heat down the road.
During his third stint with the team, Beasley averaged 8.8 points, 3.7 rebounds and shot 43.4 percent in 24 games.
Beasley essentially was caught up in a numbers game, with Miami needing to clear out roster spots to make room for Winslow and other additions this summer.
Henry Walker, another player on the bubble, has a series of guarantees that kick in on several dates over the next few months.