The Bucks have waived forward Pete Nance. The team has yet to formally announce the move, but it shows up in the NBA’s official transaction log.

Nance, who went undrafted out of UNC in 2023, spent part of his rookie year with the Cavaliers and played a couple months during the 2024/25 season on a two-way contract with the Sixers. The 6’9″ forward caught on with the Bucks in February 2025, when he signed a two-year, two-way contract after he was waived by Philadelphia.

Nance appeared in 47 games for Milwaukee in 2025/26, averaging 5.4 points, 2.7 rebounds, and 1.0 assist in 15.7 minutes per contest. He shot 51.5% from the field and 42.0% on three-pointers, but attempted just 11 free throws in 737 total minutes of action, making four of them (36.4%).

The Bucks promoted Nance from his two-way contract to a standard multiyear deal in March, but his $2.5MM salary for 2026/27 remained fully non-guaranteed until Saturday. By waiving him now, Milwaukee won’t be on the hook for any of that money.

Nance was listed this week on Milwaukee’s Summer League roster (Twitter link), so he may still be in the club’s plans going forward. It’s possible the Bucks didn’t want to lock in his full guarantee but will re-sign him sooner or later to a deal that gives them more flexibility. For what it’s worth, he remains eligible to play on a two-way deal for one more season.