As the Golden State Warriors waive three-time championship guard Shaun Livingston, his intention remains to return for a 16th season in the NBA, league sources told ESPN.

Livingston, who'll be 34 before the start of next season, joins a free-agent market that is full of contending teams searching for savvy, championship-hardened veterans to fortify benches.

Livingston, a versatile 6-foot-7, has shown himself to be one of the league's savviest players and strong locker room presences.

The Warriors will use the waive and stretch provision to spread the $2 million guarantee on Livingston's $7.7 million salary for 2019-20 over three seasons, sources tell ESPN's Bobby Marks.

The waive and stretch -- spreading $666,000 over three years -- keeps Golden State slightly under the $138.9 million tax apron.

The Warriors have made a push this offseason to get younger and more fit financially, trading Andre Iguodala and waiving Livingston now, after the loss of Kevin Durant to Brooklyn in free agency.

Livingston averaged 15 minutes a game over the past two seasons with the Warriors, where he spent the past five seasons.