Kyle Lowry has reached a buyout agreement with the Charlotte Hornets. He's now set to join his hometown team, the Philadelphia 76ers, after he clears waivers.

Lowry was traded to the Hornets from the Miami Heat ahead of the trade deadline. The veteran point guard and Charlotte agreed he wouldn't report to the team. When the Hornets couldn't re-trade Lowry, they worked a buyout agreement.

Lowry has long wanted to play for the Sixers. He grew up in Philadelphia and played his college ball at Villanova. Now, he'll get a chance to return home and to reunite with Nick Nurse, who was his coach with the Toronto Raptors.