8:31pm: Nocioni is technically still on the team's active roster but will be allowed to look at other options in the NBA and overseas, coach Doug Collins told reporters (article from Associated Press).
"His official status is that I don't know if the paperwork is done, but we've worked out a deal with him to allow him to either go on with another team maybe, or if not, I talked to him last night, go to Argentina and get ready for the Olympics," Collins said.
8:13am: The 76ers bought out the contract of Andres Nocioni last night, a source tells Dei Lynam of CSNPhilly.com. The forward could look to catch on with a team for the home stretch of the season or possibly return to his home country of Argentina.
Nocioni, 32, was making $6.65MM in the final year of his contract with a $7.5MM team option that clearly was not going to be exercised. Nocioni played just 56 minutes across eleven games in 2011/12 for Philadelphia.