Hawks trade Joe Johnson to Nets, Marvin Williams to Jazz

[Note by your friendly BullsBlogger, 07/02/12 9:43 PM CDT: The Hawks have also dealt Marvin Williams to the Jazz for Devin Harris, who has an expiring contract ]

[Our very own NetsDaily has sources -yfbb

Johnson, who is still owed $89.3 million over the next three years, was dealt for Anthony Morrow; Jordan Farmar, who will be bought out at Atlanta's expense; Jordan Williams, Johan Petro, a signed-and-traded DeShawn Stevenson and the Rockets 2013 lottery protected first round pick.

As a result of the trade, the Nets are now eligible for the full $5 million mid-level exception (which they reportedly will use to sign Bosnian forward Mirza Teletovic) and the $1.95 million bi-annual exception. They also retain two trade exceptions worth $3.0 million and $1.30 million, acquired in the Gerald Wallace trade; $3.0 million in cash considerations; Kris Humphries Bird Rights; all their own first rounders from 2013 through 2018 and the draft rights to two top European players, Bojan Bogdanovic and Toko Shenghelia.

A-Woj, Broussard, Marc Stein and David Aldridge are all reporting JJ to the Nets is close to being finalized. Massive salary dump for the Hawks, will receive a bunch of expiring contracts and a 2013 lottery protected pick in return. David Aldridge now reporting the deal goes through regardless of Williams' decision.

This signals that even the Nets are tired of waiting for Dwight Howard.

JJ, Deron and Gerald Wallace pretty much kills their cap space.

Also, Joe Johnson has four years and $89 million left on his contract. Yet somehow he could be pawned off to a desperate team with cap space. It's almost as if the Bulls didn't even try to move Boozer...

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