Update: Brooklyn has agreed to send three first-round picks (2014, '16 and '18) along with Kris Humphries' expiring contract, Gerald Wallace, Kris Joseph, MarShon Brooks and a sign-and-traded Keith Bogans to the Celtics for Pierce, Garnett and Terry, a source told Broussard.
Kevin Garnett has agreed to waive his no-trade clause, clinching an agreement on a trade that will land Paul Pierce, Garnett and Jason Terry with the Brooklyn Nets, sources close to the process told ESPN The Magazine's Chris Broussard on Thursday night.
Brooklyn has agreed to send three first-round picks (2014, '16 and '18) along with Kris Humphries' expiring contract, Gerald Wallace, Tornike Shengelia, Reggie Evans and a sign-and-traded Keith Bogans to the Boston Celtics for Pierce, Garnett and Terry. The Celtics also will have the right to trade first-round picks with the Nets in 2017 if the Nets have the higher pick.
Yahoo! Sports reported that the Nets have substituted Kris Joseph for Shengalia.
The trade can't be made official by the NBA until July 10. Because Pierce is making nearly $17 million this season, Brooklyn needs the deal to wait until after the start of free agency and the lifting of the moratorium on July 10, since the $15.3 million team option the Celtics had on their longtime captain is used in the trade.
The trade comes with a heavy cost for the Nets: They face a luxury-tax bill of nearly $80 million. Their payroll will be close to $100 million.
Garnett waived his no-trade clause after the Nets agreed to fully guarantee the $12 million owed him for the 2014-15 season, the third year of his contract. Prior to the agreement, the Nets could have bought out Garnett for $6 million.
Garnett also was swayed by the chance to join his close friend, Pierce, in Brooklyn where they could play for longtime rival Jason Kidd.
Deron Williams, Joe Johnson, Paul Pierce, Kevin Garnett and Brook Lopez is a video game starting lineup.
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