Iwundu, 26, is 6-foot-6 and was acquired by the Hornets in an August trade with the Pelicans. He split time between the Pelicans and Mavericks last season, appearing in a total of 41 games and averaging just more than 2 points.
He has also spent time with the Magic and in the G League after being selected in the second round (No. 33 overall) of the 2017 draft out of Kansas State.
“Charlotte will take on a $1,824,003 cap hit for Iwundu, assuming he goes unclaimed on waivers on Wednesday,” noted Luke Adams of Hoops Rumors. “The Hornets now have 15 players on standard contracts and a pair on two-way deals.”