Source: Baron Davis clears waivers

Baron Davis has cleared amnesty waivers and is free to sign with any team, according to a league source.

Davis was waived by the Cleveland Cavaliers on Wednesday. He had two years and $28 million left on his contract.

The New York Knicks and Los Angeles Lakers are believed to be Davis' top choices, according to league sources.

Davis is currently recovering from two bulging discs in his back. His agent has told media outlets he will be out 8-10 weeks and he could wait to make his decision.

Davis averaged 13.1 points and 6.7 assists in 58 games for the Los Angeles Clippers and Cavs last season.

Brian Windhorst covers the NBA for ESPN.com.