Report: Deron Williams agrees to buyout with Nets, will sign two-year deal with Dallas

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The Mavericks have their point guard.

The Brooklyn Nets are going to save some money.

Deron Williams has agreed to terms of a buyout with the Brooklyn Nets and will sign a new two-year deal with his hometown Dallas Mavericks, something first reported by David Aldridge of NBA.com and TNT.

The Brooklyn Nets and point guard Deron Williams, considered joined at the hip just three years ago in a marriage that announced Nets owner Mikhail Prokhorov’s determination to spend whatever it took to build a contending team quickly, divorced for good on Friday, with the team and Williams reaching agreement on a buyout of the remaining two years and $43 million on his contract.

The deal allows Williams, once he clears waivers, to sign a deal with his hometown Dallas Mavericks—the team he almost went to in free agency in 2012 before agreeing to stay in Brooklyn on a five-year, $98 million max deal.

Marc Stein and Mike Mazzeo of ESPN have the figures on the deals.

It’s win-win. Or at least about as close to win-win as things could happen considering how bad William’s contract was ($43 million left over two years). Williams gives up a little money but gets out of Brooklyn, which he wanted.

For the Nets, they save serious cash and this deal is believed to get them below the luxury tax line. That’s both smart business and really necessary if he is going to find a buyer for all or part of the team (as has been rumored for more than a year, although he has denied it).

For Dallas, they will be in the hunt for a playoff spot in the West now. They lost DeAndre Jordan but with a likely starting five of Dirk Nowitzki, Chandler Parsons, Wesley Matthews (once fully healthy after his Achilles surgery), Zaza Pachulia and now Williams, they can compete with Utah, Sacramento, the Lakers and other teams in the West that think they can jump into the playoff picture. (Oklahoma City will make that leap now that they are healthy.)