BREAKING: Deron Williams To Sign With Mavs After Nets Contract Buyout

The Brooklyn Nets and guard Deron Williams have agreed to a buyout of the final two years of his mega-deal with the franchise. That will open the door for Williams to sign a two-year, $10 million deal with the Dallas Mavericks, per multiple sources.

According to David Aldridge of NBA.com, the agreement on the Mavs is contingent on a physical:

The agreement will clear the way, once Williams goes thru waivers, for him to sign with his hometown Mavericks, who need a starting PG.

— David Aldridge (@daldridgetnt) July 10, 2015

While terms of the buyout have not been disclosed, the buyout should give the Nets enough breathing room to escape the luxury tax and the dreaded exponential "repeater tax," which would cost Brooklyn an extra dollar for every dollar spent over the league's $84.7 tax threshold.

On the Mavs' side of things, Dallas now has a starting point guard to take over for the departed Rajon Rondo without having to break the bank on a massive multi-year deal.

Williams went to high school in The Colony, a Dallas suburb. He averaged 13.0 points and 6.6 assists per game for the Nets in 2014-15.

Stay tuned to Chat Sports and our Brooklyn Nets & Dallas Mavericks team pages for more on this breaking story.