The Charlotte Hornets have begun their search to replace Mitch Kupchak to run their basketball operations department.

Sources tell Marc Stein that the Brooklyn Nets' Jeff Peterson, New Orleans Pelicans' Trajan Langdon and Minnesota Timberwolves' Matt Lloyd are three leading candidates for the position. Stein later reported that Austin Ainge of the Boston Celtics is another candidate to monitor. 

Peterson is a top aide to Sean Marks and Brooklyn has a strong interest in trying to keep him. Peterson previously worked with Hornets' co-owner Rich Schanll with the Atlanta Hawks.

Langdon has been a strong candidate for lead decision-maker jobs previously. 

Lloyd was one of Tim Connelly's first hires with the Wolves and has previous experience with the Chicago Bulls and Orlando Magic.

Joe Tsai is in discussions to sell a minority share of the Brooklyn Nets to the Koch family, confirmed Tim Bontemps of ESPN.

1888 Management, the family's investment firm, could buy a stake in BSE Global, Tsai's company that controls the Nets, the New York Liberty, and the Barclays Center.

Tsai bought the Nets in 2019. 

The Brooklyn Nets have agreed to sign Jaylen Martin to a Two-Way deal.

Martin was previously with the Westchester Knicks and is averaging 15.0 points and 4.5 rebounds in the G League.

Martin is represented by Rich Gray and Deddrick Faison.

Sean Marks expounded upon the decision made by the Brooklyn Nets to part ways with Jacque Vaughn coming out of the All-Star break. The Nets elevated Kevin Ollie to interim head coach.

Marks cited a lack of energy and effort plays that lead to winning basketball.

"It's about the level of compete," Marks said. "We're not going to be the most talented team in the league. I'm not an idiot. I totally understand that. But, at the same time, this is a talented group of young men out there. And my expectations, and I think their expectations, should be to hold each other accountable to do the little things. The effort plays, the loose balls, the contested shots and so forth, diving on the floor.

"These are things that should be expected when you're in a place that we're at right now, where we're clawing and grappling for every single thing we can. That's what I would hope to see over these next 28 games, and that's probably, to be quite frank, some things I haven't seen.

"The level of effort and the level of compete has not always been there."

Brooklyn Nets general manager Sean Marks is under contract beyond this season, sources told Ian Begley of SNY.

Marks reportedly has a close relationship with owner Joe Tsai.

The Nets fired Jacque Vaughn earlier on Monday.

Kevin Ollie was promoted as the interim head coach.

Several Brooklyn Nets players questioned Jacque Vaughn's in-game decision making, sources told Ian Begley of SNY.

Players also expressed a lack of confidence in Vaughn as a head coach.

Vaughn was fired by the Nets on Monday. 

Spencer Dinwiddie also reportedly spoke to Vaughn in a non-confrontational way about the importance of having a defined hierarchy on offense.

Kevin Ollie was promoted to interim head coach. 

The Brooklyn Nets have promoted Kevin Ollie to interim head coach following the dismissal of Jacque Vaughn.

Ollie joined the Nets as an assistant coach this season. Ollie won a national championship with UConn in 2014 and has been a head coaching candidate in recent years.

The Nets hope Ollie can re-energize the team with 28 games left in the season.

The Brooklyn Nets have fired head coach Jacque Vaughn. Vaughn was hired as the Nets head coach when Steve Nash was fired seven games into the 2022-23 season.

In his two partial seasons in charge of the Nets, Vaughn had a 64-65 record. He went 0-4 in the playoffs, as Brooklyn was swept by the Boston Celtics in the first round of the 2023 NBA Playoffs.

The final straw for Vaughn's tenure coaching Brooklyn seems to have been a 50-point loss to Boston in the last game before the All-Star break. Following that game, several Nets players questioned the team's approach and where the team is heading for the rest of the season.

Vaughn also had 10-game interim stint leading the Nets in 2020. He went 7-3 before being swept in the 2020 NBA Playoffs in the bubble.

The Toronto Raptors have waived Spencer Dinwiddie upon his arrival via trade from the Brooklyn Nets. The Los Angeles Lakers, Dallas Mavericks, New Orleans Pelicans and Philadelphia 76ers are expected to have interest in Dinwiddie. 

Dinwiddie has a $1.5 million contract bonus for games played that the Raptors will avoid triggering.

The Phoenix Suns have agreed to acquire Royce O'Neale from the Brooklyn Nets and David Roddy from the Memphis Grizzlies.

The Suns will send out three second round picks as part of the deal.

The Grizzlies are expected to acquire Yuta Watanabe as part of the trade.

Phoenix will also send out Keita Bates-Diop, Jordan Goodwin and Chimezie Metu.