The Hawks also acquired guard Derrick Walton Jr. from the Clippers in exchange for Atlanta's 2022 second-round draft pick (protected top 55), and got Portland Trail Blazers forward Skal Labissiere and cash in exchange for Atlanta's 2024 second-round draft pick (protected top 55).
The Hawks then waived Walton.
The Hawks had acquired Nene from the Houston Rockets in the four-team trade that sent Clint Capela to Atlanta. The Hawks have been busy before the trade deadline, so far making four trades, including Wednesday night's deal with the Sacramento Kings for Dewayne Dedmon.
Nene's $2.7 million salary for the 2020-21 season would have become guaranteed if he had not been waived by Feb. 15, according to ESPN's Bobby Marks.
Nene, 37, hasn't played this season because of a hip injury. He has career averages of 11.3 points and 6.0 rebounds in 17 seasons.
Walton, 24, is averaging 2.2 points and 1.0 assist in 24 games for the Clippers this season.
Labissiere, 23, is averaging 5.8 points and 5.1 rebounds in 33 games for the Blazers this season.