Sources close to the process told ESPN that the Cleveland Cavaliers will trade Jarrett Jack to the Brooklyn Nets on Thursday as part of a three-team deal with Boston to create more salary-cap space for the pursuit of LeBron James.
Sources told ESPN.com that the Nets have agreed to take on the contracts of Jack and youngster Sergey Karasev from the Cavaliers in a swap that also will see the Celtics acquire Brooklyn’s Marcus Thornton, Cleveland’s Tyler Zeller and a protected 2016 first-round pick from the Cavaliers.
Cleveland is expected to take back a young prospect or two that Brooklyn has already drafted just to complete the transaction but no one who will be on its roster next season. The moves will give the Cavaliers significant financial flexibility by shedding the contracts of Jack, Zeller and Karasev.
Meanwhile, ESPN The Magazine’s Chris Broussard reports that the Cavaliers, in addition to James, are also now trying to strike a deal with free agent guard Ray Allen as a means of enticing James even more about a return to Cleveland.
After briefly considering retirement following the Heat’s loss to the Spurs in the NBA Finals, Allen is leaning toward returning for a 19th season, sources said.
According to ESPN’s Tom Penn, the trade of Jack sheds $9.5 million in salary (Jack, $6.3 million; Zeller, $1.7 million; Karasev, $1.5 million), giving the Cavaliers $21.7 million in cap space.
Information from Espn.com contributed to this report.