Caron Butler has agreed to sign with the Oklahoma City Thunder.

Butler also strongly considered the Miami Heat.

Butler was bought out this week by the Milwaukee Bucks.

Caron Butler and the Milwaukee Bucks have reached agreement on a buyout.

The Oklahoma City Thunder and Miami Heat are the frontrunners to sign Butler. The Thunder have stopped trying to recruit Danny Granger, which could mean they are confident in their pursuit of Butler. Oklahoma City could slide Kevin Durant to power forward with Butler at small forward in some lineup combinations.

The Chicago Bulls and San Antonio Spurs are also interested in Butler.

Kendrick Perkins will be out up to six weeks after undergoing surgery to repair a left groin strain.

Perkins sustained the injury last Thursday against the Miami Heat.

Perkins has appeared in 54 games (all starts) averaging 3.4 points, 5.0 rebounds and 1.1 assists in 19.7 minutes per contest.

The New York Knicks rejected the Oklahoma City Thunder's offer of their 2014 first round draft pick to acquire Iman Shumpert, according to sources.

The Knicks wanted an active player in return for Shumpert and deemed the guard more valuable than the late first round choice that the Thunder offered.

Doc Rivers was willing to trade Darren Collison, Byron Mullens, Matt Barnes and two second round picks to the Knicks for Shumpert, Raymond Felton and Beno Udrih, but Donald Sterling and others within the Los Angeles Clippers were hesitant to deal for an injured Shumpert.

Shumpert is expected to return on the trade market around the June draft.

The New York Knicks thought they had a deal done at the deadline with the Los Angeles Clippers centered upon Iman Shumpert for Darren Collison.

The Clippers decided against making the trade at the last minute.

Sources believe the Clippers may have been posturing to keep Shumpert from being traded to the Oklahoma City Thunder.

Russell Westbrook was cleared to return to the Oklahoma City Thunder lineup on Thursday for the first time since undergoing another procedure on his knee.

“We are all very excited to have Russell back," said Sam Presti. "He has worked extremely hard throughout his rehabilitation, and his addition will allow us to build on the progress we have made in his absence. As Russell integrates back into the team we are going to manage the transition by building his minutes over time and will evaluate his availability in back-to-back situations. These steps are an effort to control the areas of his return to play where feasible, given the reduced practice and conditioning time during the regular season. Our goal is to create the best foundation for Russell and the team as we head into the postseason.”

The Oklahoma City Thunder have interest in dealing for Iman Shumpert in exchange for a first round pick, according to a source.

Shumpert suffered a sprain MCL in the New York Knicks' win on Wednesday and will undergo an MRI.

The Knicks have been aggressively shopping Shumpert due to the emergence of Tim Hardaway Jr.

A deal is "not likely" and the teams discussed a deal on Wednesday before the injury.

The Milwaukee Bucks have steadily progressed with several teams in discussions on a trade of Gary Neal and await a franchise to advance toward completion, a league source told RealGM.

Neal has remained prepared for a change of scenery on a playoff contender, and the Bucks’ front office has worked hard to find an amicable trade to part ways. No deal is imminent, and there’s strong belief negotiations will push Thursday’s afternoon deadline.

A free agent signing of the Bucks last July, Neal quickly fell out of the rotation and has gone large portions of the season without receiving playing time. He achieved individual and team success as a sharpshooting reserve for the San Antonio Spurs from 2010 to 2013, averaging 9.4 points on 47 percent three-point shooting in last year’s NBA Finals.

For the 29-year-old, the Oklahoma City Thunder and Charlotte Bobcats appeal as two of several interested organizations.

Neal is averaging 10 points in 30 games this season. The 6-foot-4 guard has been showcased over the past three contests, scoring nearly 14 points per game.

The Oklahoma City Thunder reassigned Andre Roberson to the Tulsa 66ers of the NBA D-League.

Roberson posted 19 points, 11 rebounds and five steals in Tulsa's game on Tuesday night.

Kevin Durant has recently been called 'The Slim Reaper', a nickname he doesn't like.

For most of his career, Durant has been simply called 'KD', which he enjoys. But Durant is now giving himself the nickname 'The Servant'.

"I like to serve everybody. My teammates. Ushers at the game. The fans," said Durant.

"I know it's kinda weird to make your own nickname, but I like that one better," Durant said.