Saed Hindash/The Star-Ledger

NBA Rumors: Atlanta Hawks to Buy Out Jordan Farmar


The Atlanta Hawks are expected to buy out the contract of newly acquired guard Jordan Farmar for a reported $1.5 million once all NBA trades become official July 11.

The Brooklyn Nets shipped Farmar to Atlanta after the teams agreed upon a blockbuster trade that sent Hawks superstar Joe Johnson, and his 4yr/$90M contract, to Brooklyn for the expiring contracts of four players (Farmar, Anothny Morrow, Johan Petro, Jordan Williams), a sign-and-trade deal for DeShawn Steveson and a lottery-protected first round pick in the 2013-2014 NBA draft.

Farmar picked up his player option to stay with the Nets a week ago and was due to make $4.25M with the team, but after being traded to the Hawks (and being slotted as a third-stringer), he agreed to a buyout settlement with Atlanta for the reduced price of $1.5 million.

Farmar will become an unrestricted free agent when the buyout becomes official Wednesday.

Tags: Atlanta Hawks Brooklyn Nets