Multiple sources said the Nets are close to finalizing a buyout of Zoran Planinic's contract, which runs through next season, so he can sign a multiyear deal with Spanish Euroleague power, Tau Ceramica. Sources close to the Nets and Planinic said he likely will be bought out and waived in the near future.

"It could happen the early part of next week," one league source said.

Planinic's likely departure means Mile Ilic, last year's second-round pick, will be headed to New Jersey.

The Nets had been trying to clear a spot for the 7-foot-2 Ilic. They were offering Planinic for a second-round pick, but found no takers. Overseas, Maccabi Tel Aviv also showed interest.

"It's something we're exploring," said Marc Cornstein, the agent for both Planinic and Ilic.