ESPN's Adrian Wojnarowski cited sources in reporting Tuesday that the Warriors will waive Livingston.
Livingston was not expected to be with the Warriors next season, either because he would retire or be waived. They already traded away Andre Iguodala to make room for D'Angelo Russell.
Over his 17-year career, Livingston has played for 10 teams after being drafted no. 4 overall by the Los Angeles Clippers in 2004.
ESPN's Bobby Marks said the move, as well as stretching out Livingston's guaranteed salary, will save the Warriors over $1 million, which will help them stay under the tax apron.More news: IBM completes landmark $34 billion acquisition of Red Hat
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Livingston signed a three-year, 23 million deal with the Warriors back in 2017. In five seasons, he was a steady leader off the bench of head coach Steve Kerr.
His production dwindled in limited action this past season, when Livingston averaged 4.0 points in 64 games.
The 33-year-old veteran point guard will likely get significant interests, especially from contending teams looking for a solid role player who can contribute off the bench.
But if Livingston is unable to find a new home, he walks off into the sunset with three National Basketball Association championships and a secure spot in the story of the Warriors' dynasty.