Telfair was waived by the Thunder on Wednesday, The Oklahoman reports.

The Thunder needed to remove a player from the roster, and they decided to release Telfair and retain Ish Smith. Telfair averaged 8.6 points and 2.9 assists in 15 games with the Thunder. It remains to be seen where he will land next.

Tel fair only played 17 minutes in Sunday's game, but still found plenty of opportunities to shoot the ball. He finished the game with 14 points (5-12 FG, 1-5 3Pt, 3-3 FT), two assists, one rebound, and one steal.

With Lamb back Telfair has returned to the Thunder's bench and can safely be dropped in all but the deepest of leagues. The severe drop in minutes and production isn't shocking, but serves as a reminder to those holding on to other short-term Thunder solutions. As the team gets healthier the players who enjoyed short term success will continue to climb down the depth chart until they aren't worth owning. With Anthony Morrow's imminent return look for things to get shaken up again in the coming days.

Telfair registered 11 points (4-8 FG, 1-4 3Pt, 2-4 FT), four rebounds, three assists, two steals, and three turnovers in 27 minutes against the Toronto Raptors on Tuesday. He was ejected for a flagrant-2 foul with 1:57 left in the fourth quarter.

Telfair struck Tyler Hansbrough in the face late in the game, but the contact seemed incidental. We all know Hansbrough can be a little dramatic when it comes to that sort of thing. The officials took a second look and decided to issue the flagrant-2 foul. Telfair and Reggie Jackson are the only guys left standing on the Thunder that can handle the basketball. If you need short term help at PG, consider adding Telfair if he is available in your league.

Telfair scored 16 points (5-10 FG, 3-7 3Pt, 3-4 FT) to go along with five rebounds and six assists in 35 minutes Monday against the Nets.

Telfair had his best offensive game of the season Monday and continues to play big minutes for a Thunder squad that has been decimated by injuries. Even though he should continue to see significant playing time, don't expect offensive performances like this from Telfair on a regular basis.

Telfair couldn't buy a bucket, finishing with four points (1-10 FG, 0-4 3Pt, 2-4 FT), four rebounds, nine assists, and four steals in 39 minutes Saturday.

Reggie Jackson was close to suiting up Saturday and when he does, Telfair's value will fall precipitously. If you added him after the news the Westbrook would be out, you can consider dropping him as soon as it is confirmed that Jackson will return, likely to be for the Thunder's next game.

Telfair played for 38 minutes after Russell Westbrook left the game Thursday with an injury, scoring 11 points (2-9 FG, 1-5 3Pt, 6-8 FT) against the Clippers.

If Westbrook's injury keeps him out for an extended period of time, Telfair will be the starting point guard for the Thunder, at least until Reggie Jackson returns from his injury. Telfair could be worth a flier in some leagues given the volume of minutes he played without Westbrook.

Telfair played 43 minutes over the last two preseason games.

Telfair was dealing with a thumb sprain the past two weeks, but has played in the last five games for the Thunder without any setbacks. It's safe to say it shouldn't give him problems going forward.

Telfair (thumb) missed his second straight preseason game Tuesday.

Telfair has been hampered by both a quad injury and a right thumb sprain that has caused him to miss all but one preseason game. He is expected to be behind both Russell Westbrook and Reggie Jackson this season, leaving him with minimal fantasy value.

Telfair will miss Friday's game against the Mavericks with a right thumb sprain, Anthony Slater of The Oklahoman reports.

Telfair missed Sunday's intrasquad scrimmage due to a quad issue, but now appears to be suffering from a separate thumb sprain. He is likely day-to-day because of the injury and shouldn't miss any regular season time.

Telfair (quad) will sit out Sunday's intrasquad scrimmage, Anthony Slater of The Oklahoman reports.

Telfair is dealing with a minor quad injury and will not play in Sunday's scrimmage. Consider him day-to-day at this point, though the veteran holds extremely minimal fantasy value.

The Oklahoma City Thunder have officially signed Sebastian Telfair.

Telfair's deal was officially announced by executive vice president and general manager Sam Presti on Tuesday, while the the terms of the deal were not announced, as per team policy. The 29-year-old averaged 36.3 minutes, 26.1 points, 4.5 rebounds, 6.0 assists, 2.0 steals in 35 games with Tianjin Ronggang of the Chinese Basketball Association last season, but won't have much fantasy value in standard leagues while backing up Russell Westbrook and Reggie Jackson.

Thunder sign G Sebastian Telfair.

According to sources, the 29-year-old former lottery pick has signed a deal with the Thunder for the veteran's minimum. Telfair has played with seven different teams over eight NBA seasons and most recently played with Tianjin Ronggang of the Chinese Basketball Association. He will serve as a solid bench option for the Thunder, but his fantasy value is essentially non-existent barring an alien abduction of Russell Westbrook and Reggie Jackson.

The Grizzlies are interested in Sebastien Telfair, according to head coach Dave Joerger.

The Coney Island playground legend most recently played with Tianjin Ronggang of the Chinese Basketball Association, but it sounds like the could be back in the NBA soon with Joerger's latest comments. The 29-year-old has averaged 7.4 points, 1.6 rebounds, 3.5 assists, and 0.7 steals in nine seasons with seven different teams in his NBA career and while he could serve as a decent rotation player for the Grizzlies, he doesn't hold much fantasy value.

Sebastian Telfair signed a one-year deal with Tianjin of the Chinese Basketball Association.

Telfair will get a chance to come back to the NBA in late February when the CBA season ends.

Sebastian Telfair is reportedly drawing interest from the Celtics, Lakers and Spurs.

With training camp less than a month away, signing Telfair looks to be a low cost move to add backcourt depth. It would likely take multiple injuries for "Bassy", and his career 7.4 ppg, to have any fantasy relevance this season.

The Heat have expressed interest in signing Sebastian Telfair.

The buzz on Telfair as a backup point guard has subsided for close to a month. The Knicks were close on Telfair back in early July, but nothing came of it. The Heat would have to sign him to a cheap deal, which is something that should be expected for the 28-year-old guard.

Sebastian Telfair might not be joining the Knicks due to financial reasons.

He said "I'm heading home" on his Twitter over the weekend, which attracted some attention to the Brooklyn native. Telfair would likely have to sign at the veteran minimum with the Knicks' mid-level exception almost completely gone.

Sebastian Telfair would certainly consider playing for the Knicks next season, according to his agent Andy Miller.

"He certainly would consider the Knicks strongly," Miller said. Telfair went to Abraham Lincoln High School in Brooklyn and jumped straight to the pros, but this would be the first time he calls NY home as he enters his 10th season in the NBA. He would just provide depth and would not have fantasy value in almost all leagues.

The Knicks and Nets have both expressed interest in unrestricted FA Sebastian Telfair.

Telfair was born in Brooklyn but it's not likely that he'll give the Nets a hometown discount -- at 28 years old, coming off a season in which he averaged 15 minutes in 59 appearances, he'll be looking for the most money and minutes available. He earned $1.6 million last season.

Sebastian Telfair (knee) returned from a four-game absence with 10 points on Sunday, hitting two 3-pointers and handing out three assists in 16 minutes.

He even knocked down a few 3-pointers, but he's only averaging 13 minutes in eight games with Toronto and remains an unlikely source of value while Kyle Lowry is playing.