The Phoenix Suns waived forward Michael Beasley today pursuant to a termination agreement between the club and him. In accordance with that agreement the compensation owed to him by the team will be reduced and the Suns’ salary cap room will be increased for both the 2013-14 and 2014-15 seasons.

“The Suns were devoted to Michael Beasley’s success in Phoenix” said Suns President of Basketball Operations Lon Babby. “However it is essential that we demand the highest standards of personal and professional conduct as we develop a championship culture. Today’s action reflects our commitment to those standards. The timing and nature of this and all of our transactions are based on the judgment of our Basketball leadership as to how best to achieve our singular goal of rebuilding an elite team.”

“We have high standards for all of our players” said Suns General Manager Ryan McDonough. “We expect them to represent the team and the community in a positive manner both on and off the court.”