The Denver Nuggets have waived Kostas Papanikolaou for the second time in three months.

The Nuggets released Papanikolaou to avoid guaranteeing the balance of his contract for the season. 

Papanikolaou was acquired by Denver as part of the trade that sent Ty Lawson to Houston and was waived for the first time Sept. 25. The Nuggets re-signed him Nov. 5.