A source told ESPN The Magazine's Chris Broussard that free agent small forward DeShawn Stevenson has agreed to a one-year, $2.5 million contract with the Nets.
In a corresponding move, the team announced that it has waived small forward Stephen Graham.
Stevenson, 30, brings championship experience to the Nets. The 11-year NBA veteran owns career averages of 7.7 points, 2.2 rebounds and 1.8 assists.
With Stevenson coming and Graham going, the Nets now have approximately $9.6 million in cap space remaining.