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Brooklyn Nets Waive Joe Johnson

With Johnson on the open market, one lucky playoff team is going to add some punch to their roster.

Tom Szczerbowski-USA TODAY Sports

The Brooklyn Nets have officially waived Joe Johnson after agreeing to terms of a buyout, according to ESPN. Johnson, 34, has a reputation for hitting big shots that has several championship hopefuls interested in his services. Reportedly among them are the Atlanta Hawks, Boston Celtics, Cleveland Cavaliers, Houston Rockets, Oklahoma City Thunder, Miami Heat, and Toronto Raptors.

Prior to the buyout, Johnson was widely considered to have one of the worst contracts in the NBA. His six-year, escalating, $124 million deal was set to expire at the end of this season, in which he was owed $25 million.

Despite his advanced age, Johnson, a 15-year veteran, has averaged 11.8 points and 4.1 assists in 57 starts for the Nets this season. At a reduced price, he could make another franchise very happy. According to ESPN's Marc Stein, the Cavaliers are the favorite to land him.

Johnson will clear waivers on Saturday.