Utah releases Glen Rice

SALT LAKE CITY, Oct. 3 (UPI) -- The Utah Jazz released forward Glen Rice on Friday after reaching a mutual agreement on his contract.

On Tuesday, the Jazz acquired Rice and an undisclosed amount of cash from the Houston Rockets for reserve center John Amaechi and a second-round pick.

BizVantage – A Net clipping service that learns what you need: for business, investment or technology.
Try the free, no-hassle 6 month trial!

By exchanging Amaechi's $3 million salary for Rice's $9 million price tag, the Jazz reached the salary floor of $32 million.

However, the team is rebuilding with a roster of young players and has no use for Rice, a 36-year-old marksman who has been slowed by injuries.

Terms of the settlement were not disclosed. Rice becomes a free agent and is free to negotiate with any team. Despite his age, he is one of the best players available with the season less than four weeks away.