The Nets have officially waived point guard Deron Williams, the team announced today. The move was first reported yesterday by David Aldridge of NBA.com.
“I would like to thank Deron for everything he gave the organization over the past 4 ½ years,” Nets general manager Billy King said in a prepared statement. “I would like to wish Deron and his family good luck in the future.”
The Nets will reportedly pay Williams $27.5 million out of the remaining $43 million left on his contract, spread out as a $5.5 million hit over five years. Once Williams clears waivers, he will sign a two-year deal with the Dallas Mavericks.