Per the official press release:

The San Antonio Spurs today announced that they have waived forward/center Ryan Richards.

But don’t feel too bad for Richards as he now has the opportunity to shop himself to any interested NBA teams. Part of the reason he and his fans were excited about his camp invite is that they knew the Spurs would need to make a decision about him this preseason and he wouldn’t have to play in Europe anymore unless there were no offers from all 30 teams, not just the one in San Antonio.

So best of luck to you, Ryan. I hope you’re able to get into another camp and secure a contract.