Sources say that the Brooklyn Nets and the Atlanta Hawks are close to trading Jordan Farmar, Johan Petro, Anthony Morrow, Jordan Williams, a first-round pick, and a signed-and-traded DeShawn Stevenson for Joe Johnson.
Danny Ferry, who has just arrived as the GM of the Atlanta Hawks, has already made a giant move by alleviating the Hawks with one of the most immovable contracts in the NBA. Joe Johnson is contracted to make between $19-$25 million from this year on to 2015-2016, a contract that many thought to be untradeable.
The Nets will be getting rid of numerous expiring contracts to take on one large contract. However, what complicates the dynamics of this trade is how the Nets will now afford to pursue Dwight Howard, especially after the $40 million contract that they gave to Gerald Wallace. Howard has been recently rumored to have only one destination in mind, but the Brooklyn Nets may have just taken themselves out of his itinerary after this move.
Update: The Hawks aren't done wheeling and dealing and beginning the rebuilding process. They sent Marvin Williams to the Utah Jazz later Monday in exchange for Devin Harris.