Stephon Marbury was waived Tuesday by the New York Knicks, ending a turbulent five-year stint in which the former All-Star couldn’t lead his hometown team to a single playoff victory.

The team released a statement saying an agreement between the Knicks and Marbury had been reached, but did not disclose financial terms. Knicks president Donnie Walsh has said the team and Marbury have been trying to workout a buyout.