Nets assistant coach Lawrence Frank is in the process of retaining “high-powered” legal counsel, presumably to settle a buyout with the franchise in the wake of being “re-assigned” by head coach Jason Kidd, a league source told The Post.

When the Nets hired Frank — a former head coach with the Nets, whom Kidd had publicly pursued to be one of his assistants after taking the job back in June — they gave him a six-year deal worth a total of roughly $6 million, according to league sources, making him the highest paid assistant coach in the NBA.

Then Tuesday, before the Nets were blown out by the Nuggets, 111-87, in Brooklyn, Kidd stunningly announced Frank would no longer be on the bench or at practice.

Instead, Kidd said Frank will be filing daily reports to him on the team’s games.

“I think [Frank] is still working, so there’s no disappointment,” Kidd said after Wednesday’s practice. “So we move on.”