The Charlotte Bobcats have withdrawn their qualifying offer to point guard D.J. Augustin according to team president of basketball operations Rod Higgins. The move will now make Augustin an unrestricted free agent.

Augustin was the ninth overall pick in the 2008 draft and has been the Bobcats’ starting point guard for the majority of the past two seasons. However Augustin’s future with the team became cloudy when Charlotte selected guard Kemba Walker in last year’s draft – ironically with the ninth overall pick as well.

The writing on the wall became even clearer when, according to a Charlotte Observer report, the Bobcats reached an agreement in principle with free agent guard Ramon Sessions on Thursday.

Augustin has career averages of 10.9 points and 4.4 assists, but has developed into an underrated three-point threat boasting a career accuracy rate of 37 percent.

The Bobcats reportedly engaged in trade discussions with Indiana, Portland and Oklahoma City for Augustin over the past several weeks but could not find an offer suiting their appetite.

In another ironic twist, Augustin will now join another former Bobcats starting point guard in Raymond Felton as two of the most coveted point guards remaining in free agency.

UPDATE: According to numerous reports, Augustin has agreed to a one-year deal with the Indiana Pacers.