10:42pm: Butler has officially signed his two-way deal, according to the NBA transactions log.
6:21pm: The Wizards are bringing back free agent guard Jared Butler on a two-way deal, Marc Stein tweets.
Butler was on a standard contract with Washington entering training camp but was cut on Saturday. He cleared waivers on Monday.
It’s not surprising that Butler was brought back by the Wizards, who reportedly explored ways to keep Butler on the 15-man roster. He was on a non-guaranteed contract and the team was already carrying 15 players on fully guaranteed deals. It’s entirely possible Butler will wind up signing another standard contract at some point this season.
To make room for Butler, the Wizards waived guard RayJ Dennis, according to the NBA transactions log.
The 40th overall pick in the 2021 draft, Butler spent time with Utah and Oklahoma City before playing for the Wizards in 2023/24. He was on a two-way contract for most of the season before being converted to a multiyear standard contract in April.
Butler appeared in a total of 40 NBA games last season, averaging 6.3 points, 3.2 assists, and 1.5 rebounds in 14.2 minutes per night, with a .488 FG%. He also had a strong preseason this month, with averages of 6.8 PPG and 4.2 APG on .536/.400/.667 shooting in five games (14.3 MPG).
Dennis was just signed to a two-way contract over the weekend. The undrafted Baylor guard averaged 13.6 points, 6.7 assists, and 3.9 rebounds in 34.3 minutes per game across 35 contests last season (all starts).
The Wizards opted to retain Justin Champagnie and Tristan Vukcevic with their other two-way deals.