Third-year forward Pete Nance has been waived by the Bucks, according to the NBA’s official transaction log, via Hoops Rumors.
The move comes just days before Nance’s $2.5 million salary for the 2026-27 season would have become fully guaranteed.
Nance, 26, appeared in 47 games for Milwaukee last season, averaging 5.4 points, 2.7 rebounds and 1.0 assist in 15.7 minutes while shooting an impressive 51.5 percent from the field and 42 percent from beyond the arc.
The 6-foot-9 forward went undrafted out of North Carolina in 2023 after beginning his college career at Northwestern. He spent part of his rookie season with the Cavaliers and later had a stint with the 76ers before joining the Bucks on a two-way contract in February 2025.
Milwaukee rewarded Nance with a standard NBA contract in March, but the deal remained fully non-guaranteed until this weekend. By waiving him now, the Bucks avoid guaranteeing his salary for next season.
Despite the move, a return to Milwaukee hasn’t been ruled out.
Nance was included on the Bucks’ Summer League roster earlier this week, suggesting the organization may still have interest in bringing him back under a different contract. He also remains eligible to sign another two-way deal.
Nance is the son of Cavaliers legend Larry Nance and the younger brother of free agent forward Larry Nance Jr., who returned to Cleveland last season. Pete starred at Akron’s Revere High School before continuing his basketball career at Northwestern and North Carolina.
Given his age, shooting ability and positional versatility, Nance is expected to draw interest as teams continue filling out their training camp and regular-season rosters.
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