Charlotte Hornets guard Kyle Lowry has agreed on a contract buyout, clearing the way for him to sign with the Philadelphia 76ers upon clearing waivers, Mark Bartelstein of Priority Sports told ESPN's Adrian Wojnarowski.

Lowry gives the Sixers more backcourt depth after the team traded Patrick Beverley to the Milwaukee Bucks on Thursday.

Lowry was included in the Terry Rozier deal last month that sent him from Miami to Charlotte but did not play for the Hornets this year.

His production has diminished in recent years, averaging his lowest mark in points and assists since 2008-09, but he was a key member of Miami's rotation during their run to the NBA Finals last year.

Lowry brings plenty of other playoff experience, having played in 130 career playoff games -- 11th most among active players.

Lowry, who turns 38 in March, was in the final year of his deal.