The Heat plan to waive Smith (knee) on Tuesday, Anthony Chiang of the Miami Herald reports.
Smith is out for the season after tearing his right ACL in November, so Miami opted to move on from him to clear up a roster spot for veteran guard Patty Mills, who was recently bought out by Atlanta. The 26-year-old Smith averaged 4.3 points, 1.6 rebounds and 1.6 assists in 14.6 minutes per contest across nine appearances for Miami before suffering the season-ending injury and undergoing surgery.