In each year teams of the NBA sign with new players whenever once the trade deadline starts towards the end of the February. This enables players to change teams as well as let NBA teams to create more powerful teams by signing new players. In these seasons generally players who found that useful for their current teams are released and other teams sign with them in the event that they believe they can use that player and brought the star in them. Anderson Varejao is a good example for this which he left Cleveland Cavaliers and did good work in this season.

Joe Johnson, the all star guard was waived by Brooklyn Nets after a buyout. He is currently being chased by a lot of playoff teams. Johnson had to return $3 million as part of his left over salary to go beyond the Brooklyns.

He had signed the largest deal in 2010 worth $124 million and his net earning this season ended on $ 24.9 million.

Joe Johnson Waived by BrooklynsThe Brooklyn Nets announced Thursday afternoon that they’ve waived Joe Johnson after agreeing to a buyout with the former All-Star guard.

Earlier Thursday,’s Marc Stein reported that the two sides had opened buyout negotiations. Sources said that Johnson had been sold on the idea of joining a contender for the stretch run if he and the Nets could come to terms on a contract settlement.

A number of likely playoff teams, sources said, are already pursuing Johnson: Atlanta, Boston, Cleveland, Houston, Miami, Oklahoma City and Toronto. Sources said that Johnson, who can’t clear waivers until 5 p.m. ET on Saturday, is likely to take a couple of days to sift through the offers.

There is a strong belief within the Cavaliers’ organization, league sources said, that they are in prime position to win the Johnson sweepstakes and add him to their title-chasing roster. But sources say the Hawks are likewise planning to make a determined push to persuade Johnson to return to Atlanta.

Because Johnson was released by new Nets general manager Sean Marks by this coming Tuesday, he’ll be playoff-eligible for his next team.

Johnson gave back $3 million in remaining salary to move on from Brooklyn, Marks said during an interview Thursday on ESPN New York 98.7 FM.

“It shows Joe’s serious about going to a contender. We wish him all the best. He’s been part of some great Net memories,” Marks said.

Johnson, 34, is earning $24.9 million this season in the final year of a mammoth six-year, $124 million deal that was the league’s largest at the time when he signed it with the Hawks in 2010. Brooklyn absorbed the remaining four years and $89.3 million left on Johnson’s deal — soon followed by the acquisitions of Paul Pierce and Kevin Garnett — in a bid to first persuade then-franchise point guard Deron Williams to stay with the Nets and then to make a run at the NBA championship that Nets owner Mikhail Prokhorov vowed to win within the space of five years.

But the Nets won only one playoff series after acquiring Johnson and don’t have control of their own first-round pick until June 2019.

Setting Johnson free is the second significant move for Marks in his first week-plus on the job after Brooklyn released veteran forward Andrea Bargnani.

Marks said it was his call to complete a buyout of Johnson, but Prokhorov was in support of the decision.

“I know [Prokhorov] is very fond of Joe, and it’s hard to see him leave, and he would’ve loved for Joe to have stuck around and been a Net for the rest of this season and beyond,” Marks said. “But I think he also realizes the fair thing for Joe would be [for him] to try to get a chance at a championship.”

Asked about the potential of Johnson returning to Brooklyn in the offseason, Marks replied: “You never know what’s going to happen with the future. But if he ends up somewhere else, we’re basically saying, ‘Joe best of luck to you and we’ll catch up with you down the road. It’s been fun.’ But I’m not going to rule anything out. But at the same time we’ve got some different things on our horizon, I guess, right now.”

Johnson, who is averaging 11.8 points on 40.6 percent shooting but has seen an uptick in his performance lately, has been best known for his winning shots at the buzzer in Brooklyn. He has seven of them in the past decade, which accounts for the most by any NBA player in that span by a wide margin, according to ESPN Stats & Information.

Every year, teams around the NBA buy out veteran players’ contracts after the trade deadline comes and goes in late February, allowing them to sign with contending teams for the final few weeks of the regular season and the playoffs.

Inevitably, these players are almost always ones doing little for their current teams. The shining example this season is Anderson Varejao, who went from playing a combined 57 games over the last two years for the Cleveland Cavaliers while averaging a robust 2.6 points and 2.9 minutes while being used sparingly this season – only to be the subject of a multi-team bidding war after he was bought out, and eventually signed by the Golden State Warriors.

In other words, players who are bought out tend to matter little, if at all, in terms of determining the outcome of a season for any team.