According the NBA TV's David Aldridge, the Indiana Pacers let guard A.J. Price go by withdrawing their qualifying offer on the third-year player, taken in the second round (52nd overall) of the 2009 draft.
Pacers clear a roster spot by opting to renounce their rights to guard A.J. Price, making him an unrestricted free agent, per source.— David Aldridge (@daldridgetnt) July 9, 2012
By moving Price, the Pacers free up a roster spot and about $1 million in cap space and also let their security blanket point guard and a locker room favorite leave the Fieldhouse. Juice could always return under a new free agent contract but his move may indicate others in the offing that require additional roster space.
As for Price, I really hope he lands in a situation where he can play consistent minutes. The guy has been a great pro for the Pacers in his utility backup roll the past couple of seasons. He was in and out of the playing rotation a few different times and always took the floor ready to play no matter how long it had been since his last run.