The AP reports:  Derrick McKey, a 14-year NBA veteran, was waived Monday by the Indiana Pacers.

"This was a very difficult decision to make because Derrick has been one of the best players we've had here and has been responsible for many of our successes," team president Donnie Walsh said.

"With the way our roster is developing and the improvement of our younger players, it was going to be hard for Derrick to get playing time this year. Hopefully, he'll be able to gain a roster spot with another team," Walsh said.