Summary
Livingston was a very high level prospect early in his high school career. He stalled out a little bit later in high school, but was still a top-level prospect by the time he graduated, and was seen as a clear one-and-done heading to Kentucky in 2022. He had a rough freshman season, and ended up getting selected late in the 2nd round, going 58th to the Bucks. 

Livingston has an NBA body at a strong 6'6" and a 6'11" wingspan. Pair that with some solid flashes of skill, and there's a lot theoretically to like about Livingston. However, he just hasn't been able to put it all together yet. He doesn't score efficiently, and doesn't have much of a feel as a passer or playmaker for others. 

Livingston barely played at all in '23-'24, getting just 30 total minutes of non-garbage time, according to Cleaning the Glass. He is still only 20 years old, so there's hope for improvement going forward.
 
Cap Considerations
Livingston's $1.9 million salary for 2024-2025 is non-guaranteed, and if he is waived he will become an unrestricted free agent and the Bucks will have no form of Bird rights on him. If he is waived, teams could claim him off waivers, but would need to fit his salary within cap space or an exception to do so, as his contract was for more than two years.

If Livingston becomes a free agent, other teams will have multiple ways to sign him as even teams without cap space could use any of the Non-Taxpayer MLE, Room MLE, Taxpayer MLE, or Bi-Annual Exception to sign him. If Livingston is waived and clears waivers, his value will likely have dropped low enough that he would only have offers for the minimum, and he may not even get fully-guaranteed offers.