The Nets came to an agreement last night with 2011 second-round pick Bojan Bogdanovic, according to a league source.

Bogdanovic will sign a three-year deal with the Nets starting at about $2.5 million when the NBA’s moratorium on transactions ends Wednesday. The deal also contains a player option in the third year, the source said. The Nets used most of their taxpayer’s mid-level exception to sign Bogdanovic, the only way they could sign a player for more than the veteran’s minimum, due to the fact they are far over the luxury tax threshold.

By not using all of the mini mid-level exception — which starts at $3.18 million this year — the Nets saved themselves roughly $3 million on what will be a massive luxury tax bill thanks to their massive payroll following the blockbuster deal with the Celtics.

Reported by Tim Bontemps of the New York Post