Nets, Deron Williams reach buyout, Williams to join Mavericks

Deron Williams (AP)
Deron Williams (AP)
Deron Williams (AP)

It’s finally happened.’s David Aldridge has reported that the Brooklyn Nets & Deron Williams have reached a buyout agreement, and Mike Mazzeo of reports that the buyout figure is $27.5 million, spread out over five years at $5.5 million per season.

Reducing Williams’s cap hit by that much brings the Nets under the $84.74 million luxury tax figure set for 2015-16, prior to any other moves.

Williams will likely sign a two-year deal with the Mavericks when the buyout is complete, according to Stein:

Williams’s wife Amy posted an “I’m Coming Home” video to her Instagram account, adding that she’s excited to go home:

The Nets & Williams had discussed a buyout for quite some time, with a report from ESPN’s Marc Stein late Thursday indicating that they were close.

Williams had two years and $43 million remaining on the five-year max contract he signed in the summer of 2012, including an early termination option for the 2016-17 season.

Williams played a total of 277 regular season and 25 playoff games with the Nets over five seasons. — Nets point guard Williams reach buyout agreement