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Mirza Teletovic signs with Phoenix after Nets rescind qualifying offer

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Kyle Terada-USA TODAY Sports

That was fast.

Minutes afrer word came that the Brooklyn Nets had rescinded their qualifying offer to Mirza Teletovic, enabling him to become an unrestricted free agent, he did. He signed a one-year, $5.5 million deal

David Aldrigde of broke the news in a tweet...

Not long after, Teletovic himself tweeted this...

The Nets qualifying 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. And the Nets are trying to do quite the opposite with the luxury tax.

Billy King wouldn't commit to Teletovic at Thursday's press conference featuring Brook Lopez, Thaddeus Young, Shane Larkin and Thomas Robinson.

"We've been in conversations with Mirza the last couple of days," King said. "Hopefully it could work out." Reporters said  that King mentioned a "plan B" should Mirza not return. Of course, with the loss of Alan Anderson and now Mirza Teletovic, the Nets' perimeter shooting decreases even more.

Teletovic, 29, played a total of 165 games with the Nets, averaging seven points on 36% from three. He struggled with consistency throughout his tenure, but found a niche off the bench in his second year after shooting a career-high 39% from three.

It seemed like his third and final year, the year he'd gain some more responsibility, would permit him to play for a bigger contract. Unfortunately for Teletovic, doctors found two blood clots on his lungs back in late January, sitting him out for the rest of the season after just 40 games played. It played a clear effect in a somewhat disappointing first half of the season.

Mirza expressed his desire to stay in Brooklyn when the season ended, but the Nets never wanted to commit. In the end, rescinding the qualifying offer made things easier.

Many believed Teletovic fit the Spurs' criteria of being a foreign player with versatility and the ability to shoot, especially when reminded of  the subtle message Spurs coach Gregg Popovich had sent during Teletovic's rookie year. He seemingly slammed the Nets' coaching staff for 'mishandling a foreign kid.'

I won’t mention the team, but a team we played this season … there was a foreign kid on there and the kid was open all the time. He was out there wondering, ‘What the…? I can’t get the ball?’ You’d see that look on his face five times during the game. While an American kid is dribbling in place, holding the ball. The guy played on a good team overseas, in a good program. He came over … [In Europe], he gets the ball and shoots it. Now, it doesn’t come."

The Suns, however, scooped up Teletovic as fast as they could.

The Nets currently have 14 players under guaranteed contracts and another four with at least partially guarantees through the season. The cost cutting continues and the youth movement in already in action.