Brooklyn Nets Waive Andrea Bargnani

Andrea Bargnani

Amid buyout rumors, the Brooklyn Nets waived forward Andrea Bargnani on Saturday.

He made the announcement on Twitter, writing: "The Nets and I agreed to part ways this afternoon. Ready for the next challenge."

According to ESPN, both sides have been in buyout negotiations, but apparently, opted to simply waive him.

Bargnani, the No. 1 overall pick of the 2006 NBA Draft, didn't fare well in Brooklyn. This season, he averaged nearly 14 minutes in 46 games, while posting 6.6 points and 2.1 rebounds a game.

He signed a two-year, veterans minimum contract last year, with a second-year player option.