The Celtics acquired Bynum from the Detroit Pistons earlier this month in a cost-saving swap that sent out Joel Anthony. The team pursued additional deals in hopes of not having to eat a guaranteed contract, but came up empty.
By waiving Bynum, the Celtics will stomach his $2.9 million contract. The team remains about $2 million under the luxury tax line ($76.8 million) with a total commitment of roughly $74.8 million entering the season.
In announcing Bynum's release, the team also formally waived Erik Murphy (eating a $100,000 guarantee) and training camp invitees Tim Frazier, Rodney McGruder, Christian Watford and guard/forward Jarell Eddie. Some of those invitees are expected to land as affiliated players with the Maine Red Claws of the NBA Development League.
A look at Boston's official opening-day roster: