The Suns have waived veteran wing Haywood Highsmith, according to Michael Scotto of HoopsHype (Twitter link). He’ll become an unrestricted free agency on Friday, assuming he goes unclaimed.

Highsmith, 29, missed a significant portion of the 2025/26 season after he underwent surgery on a torn meniscus in his right knee last August and experienced a setback in his rehab in October. He eventually signed a two-year, minimum-salary contract with the Suns in February and appeared in seven regular season games and two playoff games for the team.

A quality three-and-D rotation player in Miami, Highsmith averaged 6.3 points, 3.3 rebounds, and 1.3 assists in 22.7 minutes per game during his final two seasons with the Heat from 2023-25. He posted a shooting line of .461/.388/.684 and played in 140 regular season contests (68 starts) during that stretch.

Highsmith’s $3,018,158 expiring contract for 2026/27 wasn’t fully guaranteed, but it did feature a $1MM partial guarantee, so the Suns will be on the hook for that money unless the swingman is claimed on waivers.

The transaction will move the Suns approximately $6.9MM below their second-apron hard cap and will leave the team with 14 players on standard contracts. It will also reduce Phoenix’s projected luxury tax bill by more than $11MM, from about $61.2MM to $50.1MM, though that number will rise again if the club signs a new 15th man.