Someone had to be cut after the massive Rudy Gay deal, and it appears as if DJ Augustin is on the unfortunate side of the spectrum.
Augustin had a 1 year contract with the Toronto Raptors and was fairly unproductive during his tenure here. He was brought in to be the back-up point guard but lost the role early after an underwhelming offensive performance.
The Raptors now have 4 point guards with Lowry, Vasquez, Stone, and Buycks, so it was a logical move.