Perez and the Nuggets parted ways earlier this week.
Nuggets general manager Angela Ruske was keeping mum on the reasons behind his exit.
However, she said it was a mutual decision "because it wasn’t working out".
Ruske would not be drawn on whether it was related to his recent conduct breach.
Perez was fined $1000 — reduced to $500 because of an early plea — by the National Basketball League for excessively questioning officials and for approaching a referee after a game in an aggressive manner.
The incident occurred during the Nuggets’ game against the Auckland Tuatara on April 30.
Perez also received a one-match ban, which was suspended pending no further complaints of unsatisfactory conduct towards referees this season.
His departure will remove a proven scorer.
The 26-year-old averaged 20.8 points during his stint with the Nuggets, and he was also their most productive rebounder with 7.7 a game.
His strength was getting into the paint and drawing fouls, or dishing the ball back to the outside shooters.
His lack of mobility and pace was a liability on defence, but he played the games wholeheartedly, and sometimes that passion bubbled over into frustration.
The Nuggets’ playoff prospects essentially live on only as a calculation.
On the face of it, there would not seem to be much gained by recruiting a replacement.
But Ruske was keen to see what was possible.
"We’re exploring the possibility of a replacement, as it could be a positive step for the team and our fans," she said.
"However, no final decision has been made on whether we’ll move forward with it."
The Nuggets' game against the Indian Panthers in Dunedin on Friday has been postponed.
The Panthers were given 10 days to resolve their financial issues or be expelled from the league.
That deadline lapses on Monday.
The NBL has not decided what it will do regarding the competition standings should the expansion club be axed.
But the most obvious solution would be to make all the games against the Panthers null and void.
Ruske said the teams that had travelled north to play the Auckland-based Panthers had not been financially disadvantaged because the cost was covered as part of the Panthers’ entry into the league.
However, the Nuggets played the Auckland Tuatara two days later in Dunedin and lost narrowly.
"From a playing perspective, yeah, it was an extra game. But there are other teams that have been impacted by it, and some teams have played the Panthers twice.
"So they've had more impact than what we have, and I think across the league it's probably been a similar impact.
"So we're not in a different position than any other team, to be honest."
The Nuggets' next assignment is against the Southland Sharks in Invercargill this Sunday.
Veteran Matthew Bardsley will play his 100th game for Otago.
