MONDAY, 3:06pm: The Nets have officially signed Watson, the team announced today in a press release.
SATURDAY, 8:12pm: The Nets have agreed to terms with point guard C.J. Watson on a two-year deal for the veteran's minimum, reports Peter Vecsey of the New York Post (via Twitter). The former Tennessee star became an unrestricted free agent on Friday after clearing waivers. Watson's second year of the contract will be a player option.
Watson, 28, averaged 9.7 PPG and 4.1 APG in 49 games for the Bulls during the 2011/12 season. He filled in admirably as the starting point guard at different points during the season as Derrick Rose battled various ailments until suffering a season-ending torn ACL during the first round of the playoffs against the Sixers. With the Nets, Watson will serve as the backup to All-Star Deron Williams.