Joe Johnson waived by Brooklyn Nets

The Brooklyn Nets have waived veteran guard Joe Johnson after agreeing a buyout.

Johnson's departure was announced on Thursday, with the seven-time NBA All-Star ending his three-and-a-half season stint in Brooklyn.

The 34-year-old is now expected to join one the league's championship contenders amid interest from the likes of the Cleveland Cavaliers and the Atlanta Hawks.

"Thank you to all of the Brooklyn and New York Fans for your support during my time with the @BrooklynNets," Johnson wrote via his official Twitter account.

"I want to thank the Nets organization and I wish nothing but the best to the team. I am looking forward to the next chapter of my career and am excited to bring my talents to a new team."

Johnson made 288 appearances for the Nets, averaging 14.7 points, 3.8 rebounds and 3.4 assists per game.

"The Nets want to thank Joe for his many contributions to the team and the organization," said Nets general manager Sean Marks.

"Joe has been a quality professional since joining the Nets four years ago, was a valued member of three playoff teams, and provided many thrilling moments for his teammates and Nets' fans.  We wish him much success in the future."