Report: Deron Williams Reaches Buyout Agreement With Nets

NEW YORK (CBSNewYork) -- It appears Deron Williams' tenure with the Nets is over.

According to a report on NBA.com, the veteran point guard has reached an agreement with Brooklyn on a buyout of the final two years of the five-year, $99 million contract he signed with the team in 2012. He was due a total of $43 million and will receive $27.5 million, ESPN reported.

MORE: Lichtenstein: Nets' D-Will Buyout Would Be A Win-Win-Win

In order to not damage their salary cap space, the Nets will reportedly use the "stretch provision," allowing them to pay Williams $5.5 million over each of the next five years.

Williams is expected to sign a two-year, $10 million contract with his hometown Dallas Mavericks, ESPN reported.

Williams' wife, Amy, appeared to confirm the news, writing on Instagram, "Heading back to where it all started!" -- a reference to the suburb outside Dallas where the 31-year-old guard was raised.

Williams' statistics consistently fell over his final three seasons with the Nets, from a high of 21 points and 8.7 assists per game during the 2011-12 season to 13 points and 6.6 rebounds during the 2014-15 season.

In the midst of a roster overhaul, the Nets had tried to find a suitable trade partner for Williams, but his contract was believed to be too prohibitive. Brooklyn has also reportedly been shopping veteran shooting guard Joe Johnson.