CHARLOTTE, N.C. (AP) — The Charlotte Hornets have waived guard Reggie Jackson, less than a month after acquiring him and three future second-round draft picks in a deal with the Denver Nuggets.

The Nuggets traded Jackson with one year left on his $10.2 million contract because they were up against the salary cap. The Hornets were able to take on Jackson's contract because they had salary cap room.

The 34-year-old Jackson played in all 82 games last season and averaged 10.2 points and 3.8 assists while shooting 36% from 3-point range. Jackson entered the NBA in 2011 with the Oklahoma City Thunder.