The Nets made a bold today by waiving veteran, high priced guard Joe Johnson.

“The Nets want to thank Joe for his many contributions to the team and the organization,” new general manager Sean Marks said in a statement. “Joe has been a quality professional since joining the Nets four years ago, was a valued member of three playoff teams, and provided many thrilling moments for his teammates and Nets’ fans.  We wish him much success in the future.”

Johnson, 34, was in the final year of a six-year, $123.7 million contract he signed with the Atlanta Hawks before being traded to the Nets in 2012. He's averaging 11.8 points per game this season, his lowest in 13 years. Now that the team has decided to clean house from top to bottom, Johnson became a casualty of cost. But that frees him up to possibly sign with a playoff contender, which includes the Thunder, Heat, Hawks and Rockets among others.

Joe expressed his thanks to the team through Twitter: