The NBA champion Toronto Raptors have waived point guard Jordan Loyd to explore other opportunities.

The move is described as a mutual decision.

A native of Atlanta, Loyd was signed by the team undrafted out of Indianapolis.

He appeared in 55 minutes of action for the team last season over 12 games, scoring 29 points.

Loyd also played in 41 contests for the club's G-League affiliate Raptors 905 where he averaged 22.5 points a night.

The move leaves the team with one open training camp roster spot, as well as both two-way spots available.