Ja Morant Suspended for 8 Games After Displaying Gun While in a Club in Instagram Live Video

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Ja Morant has been suspended for a total of eight games after he allegedly displayed a gun on social media while at a club.

The NBA announced its decision in a statement released on its website on Wednesday.

"The discipline is in response to Morant's live streaming of a video on March 4 in which he is holding a firearm in an intoxicated state while visiting a Denver area nightclub," the league said of the Memphis Grizzlies point guard.

Morant, 23, will be able to play again on Monday, March 20, against the Dallas Mavericks.

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"Ja's conduct was irresponsible, reckless and potentially very dangerous," NBA Commissioner Adam Silver said in the release.  "It also has serious consequences given his enormous following and influence, particularly among young fans who look up to him."

Continued Silver: "He has expressed sincere contrition and remorse for his behavior. Ja has also made it clear to me that he has learned from this incident and that he understands his obligations and responsibility to the Memphis Grizzlies and the broader NBA community extend well beyond his play on the court."

After investigating the incident, the league office did not determine whether the gun belonged to Morant, if he brought it into the venue, or if he had it in his possession before or after the footage was captured.

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"The investigation also did not find that Morant possessed the gun while traveling with the team or in any NBA facility, and the Colorado authorities did not find sufficient cause to charge Morant with a crime," said the NBA.

The suspensions came after Silver met with Morant at the NBA's New York office, along with other league heads including NBA Executive Vice President, Head of Basketball Operations Joe Dumars and NBPA Executive Director Tamika Tremaglio.

A representative for Morant did not immediately respond to PEOPLE's request for comment.

He was first suspended for two games immediately after the incident and later apologized for his behavior in a statement obtained by ESPN reporter Adrian Wojnarowski.

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"I take full responsibility for my actions last night," Morant said in the statement. "I'm sorry to my family, teammates, coaches, fans, partners, the city of Memphis and the entire Grizzlies organization for letting you down."

"I'm going to take some time away to get help and work on learning better methods of dealing with stress and my overall well-being," he added.

Morant reportedly entered a counseling program in Florida and there "remains no timetable for his return to active play," Wojnarowski posted on Twitter Monday.

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All of this stems from an incident on March 3 where Morant started an Instagram Live hours after the Grizzlies' 113-97 loss to the Denver Nuggets. In the video, he appeared to be partying in a club shirtless and at one point appeared to hold up a handgun with his left hand while smiling.

Following the release of the video, NBA spokesperson Mike Bass said in a statement that the league was "aware of a social media post" and was "investigating" the incident, per ESPN.

The Glendale Police Department said they did not have probable cause to file charges against Morant.