The Nets non-tendered forward Rondae Hollis-Jefferson, making him an unrestricted free agent and clearing more cap space ahead of free agency, according to ESPN's Adrian Wojnarowski.
Brooklyn did not give the 24-year-old Hollis-Jefferson a qualifying offer, which according to Yahoo! Sports' Keith Smith gives the Nets approximately $47.4 million in salary cap space.
That number, according to Smith, would increase to $67.5 million if they don't retain restricted free agent D'Angelo Russell.
Hollis-Jefferson, a 6-foot-7, 217-pound forward, averaged 8.9 points and 5.3 rebounds in 59 games with Brooklyn. Since being drafted 23rd overall in 2015, he has averaged 9.9 points and 5.9 rebounds in the last four seasons.
"Brooklynnnnn you welcomed me with open arms and for that I'm forever appreciative. 4 years flew and I'll cherish every memory. I Love You Brooklyn!!!" Hollis-Jefferson wrote on Instagram.
The Nets are considered the favorite to land free-agent guard Kyrie Irving, however that could indicate Russell's days in Brooklyn are winding down, as sources told SNY's Ian Begley the Nets are unlikely to roster both Russell and Irving.
Russell, 23, averaged a career-best 21.1 points and 7.0 assists in 81 games with the Nets, however he has a $21 million cap hit as a restricted free agent.
If Russell signs an offer sheet with another team, the Nets would have two days to match it. The matching clock begins at the end of the league moratorium, which lasts through July 6.