Jason Collins will reportedly be in Brooklyn for the rest of this season.
Collins made history last month by becoming the first openly gay athlete to compete in one of the four major American sports leagues.
The Nets signed him initially signed him to a 10-day contract, which was then renewed once that expired.
The second contract is due to expire Saturday.
Under NBA rules, the Nets had to either release or sign him for the rest of the season once that second contract expired.
ESPN reports that the team will sign the 34-year-old backup center for the rest of the season.
Since signing with Brooklyn, Collins is averaging less than one point and one rebound per game, while playing an average of a little less than 10 minutes, but his main role with the team is providing defense off the bench.
The Nets are 7-2 since he joined the team.