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Payton was waived by Sacramento on Saturday, Sean Cunningham of Fox 40 Sacramento reports.
Payton was competing for a spot on the Kings' roster but will now search for a new team, assuming he wants to continue playing. The 32-year-old has appeared in 524 regular-season games for the Magic, Suns, Pelicans, Knicks and Hornets during his career, averaging 9.8 points, 4.0 rebounds, 5.8 assists and 1.2 steals across 26.5 minutes per contest.
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