Faverani hasn't participated in on-court activities other than light shooting since February when he injured his knee. He underwent two surgeries, including one in September after experiencing lingering pain and swelling in the knee while attempting to resume basketball workouts in training camp.
The Celtics had hoped to have Faverani back on the court for mid-December, but had recently pushed that timetable back to the new calendar year. With a need to shed a body while bringing back three players from Dallas, Faverani was deemed expendable.
Faverani will eat Faverani's $2.1 million salary. The third and final year of his contract next season was nonguaranteed.
Faverani appeared in 37 games for Boston last season, averaging 4.4 points, 3.5 rebounds, and 2 blocks over 13.2 minutes per game. He was Boston's opening night starter last year before fading and spending time in the NBA Development League where he suffered the knee injury.
Ironically, the man nicknamed El Hombre Indestructible never could get healthy enough to save his spot on the roster this season.