William McDowell-White has been let go by the Houston Rockets, ahead of training camp.
According to beat writer Jonathan Feigen, McDowell-White was waived to create a spot on the Rockets' camp roster for veteran forward Ryan Anderson, who had previously played for Houston.
The 6'5 point guard was originally on a training camp contract that converted into a two-way deal in early September (via Adrian Wojnarowski), but as explained by Olgun Uluc recently, had his option converted back to an Exhibit 10 deal.
Like Mitch Creek last season, who was signed to an Exhibit 10 contract and subsequently waived, spending time with the Brooklyn Nets' G League affiliate (Long Island Nets), McDowell-White could potentially play with the Rockets' affiliate, the Rio Grande Valley Vipers this NBA 2019/20 season, with monetary incentives.
ESPN's Bobby Marks explained the Exhibit 10 structure last year:
A player who is signed to a contract with an Exhibit 10 will receive a bonus up to $50,000 if he signs a contract with the team’s G-League affiliate upon being waived from the parent club.However, there is a catch. A player waived by Oct. 17 must report to his G-League affiliate by Oct. 20 and remain there for at least 60 days to receive the bonus (in addition to the G League salary). Unlike last season, when a team would incur a salary-cap hit for players with partially guaranteed money who were eventually waived at the end of training camp, an NBA team will not have a cap charge for the bonus money awarded.
A player signed with an Exhibit 10 can also be converted to a two-way contract by the first day of the regular season. The bonus would then be rescinded and the two-way contract would apply.
McDowell-White was recovering from a foot injury that limited his playing time with Houston during the recent NBA Summer League, but still showed his passing instincts off in the tournament.