The Brooklyn Nets and PG Deron Williams have reached a buyout agreement according to David Aldridge of TNT.
The exact terms of the buyout have not been reached, but the deal was rumored to be a $30 million buyout and would use the stretch provision. By using the stretch provision, the Nets will spread Williams’ cap hit over the next five years, making it only $6 million. With this move the Nets gain much more financial flexibility in the future.
Williams is expected to sign with the Dallas Mavericks on a two-year deal worth $10 million according to Marc Stein of ESPN.
The move signals the end of an era for the Nets. Williams has been with the organization for five years.