Nets waive Simmons after reported buyout agreement

The Brooklyn Nets waived veteran Ben Simmons, the team announced Saturday.

Simmons and the Nets reached an agreement on a contract buyout, allowing the 28-year-old to become an unrestricted free agent, sources told ESPN's Shams Charania. He's expected to meet with the Cleveland Cavaliers, Los Angeles Clippers, and Houston Rockets, sources told NBA insider Chris Haynes.

Simmons is unable to sign with seven teams as a free agent, according to ESPN's Bobby Marks, including the Boston Celtics, Denver Nuggets, Los Angeles Lakers, Milwaukee Bucks, Minnesota Timberwolves, New York Knicks, and Phoenix Suns.

That restriction is due to a stipulation introduced in the 2023 collective bargaining agreement, which prohibits teams above the first apron from signing players in the buyout market that were earning more than the $12.8-million non-taxpayer mid-level exception in their last contract. Simmons was earning $40.3 million this season, the last in the five-year, $177-million extension he signed with the Philadelphia 76ers in 2019.

The 28-year-old has averaged 6.2 points, 6.9 assists, and 5.2 rebounds with Brooklyn this season.

Simmons joined the Nets in 2022 in the James Harden trade. He previously spent four seasons with the 76ers, winning Rookie of the Year, making two All-Star games, and winning All-NBA third-team honors in 2020.

He missed the entirety of the 2021-22 season due to a holdout and back injury.

Since joining Brooklyn, he's averaged 6.5 points, 6.3 assists, 6.2 rebounds, and a steal in 90 games spanning almost three years.

The Nets are 12th in the Eastern Conference with a 17-34 record.