Sobey, Bullets agree to mutual parting of ways

Nathan Sobey has agreed to a mutual release with the Brisbane Bullets, sources told ESPN, clearing the way for him to sign with the South East Melbourne Phoenix for the 2024-25 NBL season.

Sobey -- a 6'3 combo guard coming off an All-NBL Second Team selection -- played five seasons with the Bullets, and is coming off a campaign where he averaged 20.2 points per game.

Both Sobey and the Bullets expressed a desire for a parting of ways, sources said, and subsequently gauged teams around the NBL in the search for a potential landing spot.

The Phoenix emerged as a suitor, and will pay a small buyout to facilitate the move, sources said.

The Bullets (13-15) and Phoenix (12-16) both missed the 2024 NBL postseason.

Sobey has already begun the process of joining the Phoenix; the 33-year-old was spotted working out with the team's coaching staff on Wednesday, sources said. He'll join a Phoenix franchise that has been proactive this offseason; the team parting ways with Alan Williams and Rhys Vague ahead of the official opening of NBL Free Agency.

This is the second time this offseason where a player has effectively been traded from one team to another for cash considerations. In early March, Sam Mennenga and the Cairns Taipans agreed to a mutual release, with the Kiwi big-man then signing with the New Zealand Breakers; the Breakers paid a buyout fee to the Taipans.