The Phoenix Suns have bought out the contract of eight-year veteran big man Greg Monroe.

The Phoenix Suns have agreed to a contract buyout with Greg Monroe, league sources tell ESPN.

— Adrian Wojnarowski (@wojespn) February 1, 2018

With nearly a week until the NBA trade deadline on Feb. 8, Monroe’s buyout comes at a surprising time, as he’s on an expiring $17.8 million contract.

The market for Monroe must have been dry, as there isn’t a reason as to why Phoenix would choose to go this route.

Adding on to Woj’s report:

New Orleans had interest in Phoenix’s Greg Monroe, however, have had trouble in matching salary and assets to make a potential deal work, according to a source.

Monroe is on an expiring $17.9M contract. https://t.co/Hq2dlTrlSK

— Devon Haripal (@DevonHaripalNBA) January 30, 2018

Several NBA teams have already expressed interest in Monroe, with the New Orleans Pelicans expected to pursue him heavily following the loss of DeMarcus Cousins to an Achilles injury.

The New Orleans Pelicans have interest in newly-bought out forward Greg Monroe, according to a source.

The Pelicans were initially interested in Monroe but couldn’t find a way to match his $17.9M salary.

— Devon Haripal (@DevonHaripalNBA) February 1, 2018

After being acquired early in the season in a trade that sent guard Eric Bledsoe to the Milwaukee Bucks, Monroe appeared in 20 games for the Suns, starting in 14 of them.

During his brief stint in Phoenix, Monroe averaged 11.3 points, 8.0 rebounds, and 2.5 assists in 23.3 minutes per game.