The move paves the way for Beal to sign a two-year, $11 million deal with the Los Angeles Clippers that includes a player option after he clears waivers, ESPN reported.
Beal is expected to give back $13.9 million of the $110 million he's owed from the Suns, which allows Phoenix more flexibility as it tries to rebuild its roster.
It's been a busy summer for the Suns, which also dealt 15-time All-Star Kevin Durant to the Houston Rockets for a package that included Jalen Green, Dillon Brooks and the No. 10 overall pick in this year's draft, which the Suns used to select Duke center Khaman Maluach.
The 32-year-old Beal would join a veteran Clippers roster that includes James Harden and Kawhi Leonard. Beal averaged 17.6 points over two disappointing, injury-filled seasons with the Suns.
Beal averaged a career-high 31.3 points per game during the 2020-21 season for the Washington Wizards, but his production has slowly declined since that point as injuries have taken a toll. He's missed at least 29 regular-season games with various ailments in each of the past four seasons.
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