The New York Knicks officially bought out Wesley Matthews following the NBA's trade deadline, the team announced on Thursday.

Matthews is expected to sign with the Indiana Pacers upon clearing waivers, sources told The Athletic's Shams Charania. He will give the Pacers depth at shooting guard after the team lost Victor Oladipo to a season-ending knee injury two weeks ago.

The club also plans on keeping veteran center DeAndre Jordan, league sources told Marc Stein of the New York Times.

The Knicks acquired Matthews and Jordan from the Dallas Mavericks in the Kristaps Porzingis deal.

The 32-year-old is averaging 12.8 points per contest on 37.4 percent shooting from downtown.