The Milwaukee Bucks are seeking a buyout agreement with Larry Sanders.
Sanders has served a 10-game suspension for violating the league's anti-drug program but has not returned to the team and is not expected to play for Milwaukee again. He has been listed as out for "personal reasons" in each of the Bucks' past three games.
Sanders has stated he would like to continue his playing career.
Sanders signed a four-year, $44 million extension in 2013.