By the numbers, Marcus Banks was a part of the trade that sent Peja Stojakovic and Jerryd Bayless to Toronto and brought Jarrett Jack and David Andersen to New Orleans. His salary was necessary for financial purposes, after all, but according to Jimmy Smith of the New Orleans Times-Picayune, Banks and the Hornets have mutually decided to “part ways.” He won’t be waived or bought out at this point; the Hornets just told him not to show up for work.
It’s not all that shocking that Banks’ New Orleans career suffered a primordial extinction. Chris Paul is going to eat up the vast majority of the minutes anyway, and Jarrett Jack is more than qualified to be Paul’s back-up. Behind Jack, New Orleans would probably be better off having Marco Belinelli, Willie Green, or Marcus Thornton handling the primary ball-handling duties in Banks’ stead. Even on a team deprived of conventional point guards, Banks’ game (or lack thereof) secures him no role whatsoever.
If the Hornets somehow convince Banks to accept a buyout for anything less than the $4.9 million he’s owed later this season, tally it up as a win. If not, then his salary will linger on the ledger as potential trade fodder, but the Hornets will go on without him.