Metta World Peace is nearing agreement to sign with the Sichuan Blue Whales of the Chinese Basketball Association.

World Peace was waived by the New York Knicks in February and there's been some suggestions that he would receive a camp invite from the Knicks due to his relationship with Phil Jackson.

Emmanuel Mudiay has agreed upon a $1.2 million deal with Guangdong of the China Basketball Association.

Mudiay committed to SMU, but concerns of his eligibilty became an issue this month.

Mudiay is expected to be a top lottery pick in the 2015 NBA Draft.

Sportando first reported news of the agreement.

Jan Vesely is close to signing with Fenerbahce Ulker.

Vesely was the sixth overall pick in the 2011 NBA Draft by the Washington Wizards and was traded last season to the Denver Nuggets.

Vesely has played in just 2,455 minutes over three NBA seasons.

Emmanuel Mudiay is considering hiring an agent and signing overseas.

Mudiay committed to SMU, but he may not be eligible to play his freshman season due to amateurism concerns.

The Chinese Basketball Association has been discussed as a possible destination for Mudiay, a native of the Congo.

Mudiay is expected to be a high lottery pick in the 2015 NBA Draft.

The Brooklyn Nets are working on signing Bojan Bogdanovic, who was drafted in 2011 by the club.

The Nets are attempting to use the taxpayer's midlevel to sign Bogdanovic, according to reports.

The Nets were close to signing Bogdanovic last offseason, but talks collapsed in negotiating his $2 million buyout with Fenerbahçe Ülker.

Nikola Mirotic has secured a $3 million buyout with Real Madrid in order to come to the Chicago Bulls, reports HoopsHype.

Mirotic was the 23rd overall pick in the 2011 NBA Draft and has since developed into one of Europe's best forwards.

Because he was drafted three years ago, Mirotic is not subject to the rookie salary-cap scale, and the Bulls likely will need to use some of their cap space to contribute to his buyout and sign him to a long-term contract.

The Bulls can pay up to $600,000 toward Mirotic's buyout, but anything over that amount would be considered a signing bonus and be charged to the Bulls' cap. 

Shams Charania of RealGM reports that the two sides believe they don't have significant ground to cover, but no deal is imminent.

The Bulls' decision to move forward with Mirotic at this point signals that they will be moving on without Carlos Boozer next season. Boozer can either be amnestied or traded.

The Indiana Pacers have agreed upon a three-year deal with Damjan Rudez.

Rudez will receive a portion of the Pacers' mid-level exception.

Rudez, who is 6-foot-10, plays the coveted NBA stretch-four position.

Rudez's production for Zaragoza of the Spanish ACB has helped develop a growing level of value for him in the NBA. He shot 44 percent on three-pointers in the ACB season and 52 percent (28-for-54) in the 16-game Euro Cup.