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Nets reach buyout with Alston - NBA - Yahoo! Sports

Rafer Alston(notes) has agreed to a contract buyout with the New Jersey Nets and the Miami Heat have emerged as a frontrunner to sign the point guard after he clears waivers, sources told Yahoo! Sports on Tuesday.

To possibly free up payroll flexibility to sign Alston, the Heat have also agreed to trade point guard Chris Quinn and a 2012 conditional second-round pick to the Nets. The Nets will send a $1.3 million trade exception and 2010 second-rounder to Miami.

The deal helps lower the Heat's luxury-tax bill. They could further reduce salary if they decide to cut point guard Carlos Arroyo, who is making $825,497.