JULY 16TH: The Hawks have officially requested waivers on Farmar, according to a team release. Now that the two sides having finalized Farmar's buyout, he'll be headed to Turkey's Anadolu Efes, with whom he has reportedly reached an agreement.
JULY 5TH: Once the agreed-upon Joe Johnson swap between the Nets and Hawks becomes official next week, the Hawks are expected to buy out Jordan Farmar, according to NetsDaily.com (Twitter link). Farmar is under contract for $4.25MM for the coming season, but figures to be bought out for $1.5MM.
Farmar picked up the final year of his contract to remain with the Nets last week, but the team agreed to ship him to Atlanta shortly thereafter. We heard earlier this offseason that the 25-year-old wasn't all that happy with his role in New Jersey last year, and that he'd like to be a starter going forward. With Devin Harris and Jeff Teague also on the Hawks' depth chart, Farmar doesn't find himself in a much better situation now, so a buyout wouldn't be a surprise for him or the Hawks, who are seeking cap flexibility.
If the Hawks and Farmar reach an agreement on a buyout, the six-year veteran would become an unrestricted free agent. Meanwhile, Michael Cunningham of the Atlanta Journal Constitution takes a look at Atlanta's cap situation if Farmar is bought out.