Walter Clayton has agreed to a two-way contract with the Mavericks, ESPN’s Shams Charania tweets.

The mutual interest between Clayton and the Mavs was reported by Marc Stein on Tuesday.

Clayton was placed on waivers on Monday by the Grizzlies despite his $4.19MM guaranteed salary. Multiple other teams, including Sacramento, Miami, and Golden State, were linked to the 2025 first-round pick.

With a full 15-man squad, the Mavericks didn’t have a standard spot available for Clayton. Dallas opened up a two-way slot alongside Jett Howard and Tobi Lawal by cutting John Poulakidas on Saturday.

A former Florida star who helped lead the Gators to a national championship as a senior in 2024/25, Clayton was selected 18th overall in the 2025 draft, with the Jazz giving up three second-round picks in a trade with Washington to move up from No. 21 to No. 18 to nab him. However, the 23-year-old struggled to make an impact at the NBA level as a rookie and was eventually sent to Memphis in the eight-player trade that landed Jaren Jackson Jr. in Utah.

Clayton averaged 7.8 points, 4.0 assists, and 2.0 rebounds in 20.4 minutes per night over the course of 69 total outings for the Jazz and Grizzlies last season, posting a shooting line of .384/.307/.901.

The combo guard could push for minutes at the point behind Kyrie Irving, though Cooper Flagg is often utilized as a point forward. Marcus Sasser and Sergio de Larrea are the other options off the bench.