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The Nuggets have waived forward Kostas Papanikolaou, according to Marc Stein of ESPN.
Papanikolaou was due to make close to $5 million this season, and rather than pay him, the Nuggets will remove him from the roster prior to training camp.
He spent last season in Houston, appearing in 43 games and averaging 4.2 points while shooting just 35 percent from the field. Houston opted to decline his team option in June.
