Davies appeared in just seven games for the Nets, averaging 2.3 points, 1.4 rebounds and 0.3 assists in 6.3 minutes per game. He was acquired on Dec. 11 by Brooklyn in exchange for forward Andrei Kirilenko, guard Jorge Gutierrez, the right to swap second-round picks in 2018 and Nets' second-round draft pick in 2020.
Davies' contract with the Nets was not guaranteed, and the team has waived him just one day before the Wednesday deadline. After Wednesday the team would have had to pick up his contract for the remainder of the season.
In 27 games in Philadelphia and Brooklyn this season, 6-foot-10, 23-year-old has averaged 5.3 points, 3.1 rebounds and 1.1 assists.
He played in 51 games for the 76ers last season, averaging 2.8 points and 2.1 rebounds in 11.3 minutes a game.
After going undrafted out of BYU, he was signed by the Los Angeles Clippers in September 2013 after playing with them in the summer league. He was waived by the Clippers in the preseason and signed with Philadelphia on Oct. 28, 2013.
At BYU, Davies received All-Mountain West Conference Third Team honors after his sophomore year and was an All-West Coast Conference selection as junior and senior.
The Nets, 16-18 so far this season and seventh in the Eastern Conference, play the Boston Celtics at home on Wednesday at 7:30 pm EST.