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Breaking News: Nets, Celtics, Cavs Close to 3-Way Trade

July 9th, 2014 at 11:02 AM
By Richard N. Funaro

According to ESPN's Marc Stein, the Nets, Boston Celtics, and Cleveland Cavaliers are close to an agreement on a trade that would send PG Jarrett Jack and forward and 2013 first round pick Sergey Kerasev from the Cavs to Brooklyn.

The Celtics would receive Marcus Thornton from the Nets, along with Tyler Zeller and a 2016 first round pick from Cleveland. The Cavs, who have been trying to clear as much cap space as possible in order to make a run at bringing LeBron James back to Ohio, will likely receive a future second round pick in the deal. Dealing Jack, who is due to earn $6.3 million in each of the next two seasons (with a team option for the same amount in 2016-17) plus Zeller, Kerasev and a pick frees up approximately $20 million for the Cavs.

Reports surfaced Monday that the Nets had agreed on a trade for Jack and that the Cavs were searching for a third team to take on Thornton and his $8.5 million salary for 2014-15 (which is the final year of a four-year contract he signed with the Kings back in 2011).

More to come later today on the new members of the Nets.

Tags: Basketball, Brooklyn, Brooklyn Nets, NBA

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