According to Yahoo! Sports, point guard Rafer Alston has agreed to a contract buyout with the New Jersey Nets and will clear waivers at 5 p.m. ET on Thursday. The Miami Heat has been ready to acquire the point guard once waivers are cleared.
Alston, who put on NBA jersey as the 10th pick from the second round by the Milwaukee Bucks in 1998, came to New Jersey in June in a trade for Vince Carter. It seemed that Alston did not like the new team at all and has been anxious to flee the 3-30 Nets to play for a contender. His chance came when Heat president Pat Riley identified Alston earlier this season as a veteran point guard who could help stabilize his backcourt.
To sign Alston, the Heat have agreed to trade point guard Chris Quinn and a 2012 conditional second-round pick to the Nets, while the Nets will send a $1.3 million trade exception and 2010 second-rounder to Miami. The benefit Nets get from the deal also includes reduced tax and salary.
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