The Brooklyn Nets have rescinded their qualifying offer to Mirza Teletovic, enabling him to become an unrestricted free agent and sign with any other teams with mutual interest. The announcement came shortly after Real GM reported the Willie Reed signing.
The offer was for one year, $4.2 million. If Teletovic had signed the offer, it would've cost the Nets anywhere from $15-$20 million with the luxury taxes. As we know, the Nets are trying to do quite the opposite with the luxury tax.
Not long after the Nets pulled away, Teletovic signed with the Phoenix Suns for $5.