PHOENIX -- The Phoenix Suns and Michael Beasley have reached an agreement to terminate the contract of the troubled power forward.
The move on Tuesday will cost the franchise $7 million, a $2 million savings from what Beasley would have been due had he simply been waived. It also represents a significant reduction in what the hit on the team's salary cap would have been.
Beasley was arrested a month ago in suburban Scottsdale on charges of felony marijuana possession and possession of drug paraphernalia. It was the latest in a series of incidents involving the drug that have plagued his NBA career after he was selected as the No. 2 overall draft pick out of Kansas State in 2008 (see full story).
Raptors: Richardson released
TORONTO -- The Toronto Raptors waived swingman Quentin Richardson on Tuesday, less than two months after he was acquired in a trade with the New York Knicks.
The Raptors shipped forward Andrea Bargnani to New York on July 10, receiving Richardson, center Marcus Camby, forward Steve Novak, and three draft picks in the deal.
Waiving Richardson wasn't unexpected, as the 13-year NBA veteran was only part of the July deal because of salary considerations.
Earlier, the Raptors bought out Camby, who went on to sign with the Houston Rockets. Toronto, which opens the pre-season Oct. 7 in Boston, now has 14 players on its roster.
Celtics: Sullinger pleads not guilty to assault
WALTHAM, Mass. -- Boston Celtics forward Jared Sullinger pleaded not guilty Tuesday to domestic violence-related charges after allegedly repeatedly pinning his girlfriend to a bed and the floor.
Bail for Sullinger, 21, was set at $5,000 after his plea on charges including assault and battery and intimidation of a witness.
Later Tuesday, Sullinger released a statement through the Celtics in which he apologized and called the experience "humbling and embarrassing."
"I know that this situation has brought both sorrow and embarrassment to my girlfriend, my family, the Boston Celtics organization, my teammates, and my fans," he said. "To all of you, I apologize from the bottom of my heart" (see full story).