Sources: Anthony bought out, looks to join Bucks

Guard Cole Anthony agreed to a contract buyout with the Memphis Grizzlies and plans to sign with the Milwaukee Bucks after he clears waivers, sources told ESPN on Saturday night.

The Grizzlies finalized Anthony's buyout with his representatives, Jeff Schwartz and Javon Phillips of Excel Sports, on Saturday for Anthony, who enters his sixth NBA season. Anthony, 25, is expected to sign a one-year deal with the Bucks, sources said.

The Grizzlies acquired Anthony, Kentavious Caldwell-Pope, four unprotected first-round picks and one first-round pick swap in the blockbuster trade that sent Desmond Bane to the Orlando Magic.

Anthony, known for his scoring ability, averaged 12.5 points, 4.3 assists and 3.8 rebounds in five years with the Magic. He was the No. 15 pick in the 2020 NBA draft. According to ESPN Research, Anthony has ranked in the top five in total points and assists off the bench the past three seasons.

The Grizzlies have been working with Anthony's representatives toward a resolution that allows him to find a new home and creates space for Memphis to renegotiate-and-extend Jaren Jackson Jr. to a new five-year, $240 million maximum deal.