The and have mutually agreed to part ways via waivers, bringing an unexpectedly quick end to the former lottery pick's time with the franchise.

ESPN's Shams Charania reported that the decision will allow Hawkins to find a new home in free agency once he clears waivers.

Memphis only acquired the 24-year-old from the on September 8 as part of a four-player trade.

The Grizzlies received Hawkins, Micah Peavy, a future second-round pick and a future second-round pick swap, while AJ Johnson and Taj Gibson went to New Orleans.

Hawkins was selected with the No. 14 pick in the 2023 NBA Draft after helping UConn win the national championship.

Across three seasons with New Orleans, the 6-foot-5 guard averaged 8.0 points and 2.3 rebounds while shooting 34.8 percent from three-point range.

His role declined last season, when he averaged 5.1 points across 51 appearances for the Pelicans.

Hawkins' departure also forms part of a wider roster squeeze in Memphis. The Grizzlies now have 17 players on standard contracts and must make at least two further moves to reach the regular-season limit of 15.

Memphis also waived veteran guard D'Angelo Russell on September 25.

Hawkins will now wait to clear waivers before potentially choosing his next NBA opportunity.