NJ Nets Trade Vince Carter to Orlando Magic on NBA Draft Day

The New Jersey Nets are close to a trade in principle to trade All-Star Vince Carter to the Orlando Magic, according to reports on Thursday.

The Nets will trade Carter and Ryan Anderson to the reigning Eastern Conference champion for Rafer Alston, Courtney Lee and Tony Battie.

The addition of Carter to a lineup that already consists of All-Star players Dwight Howard, Rashard Lewis and Jameer Nelson would make Orlando the favorite to win the Eastern Conference title next year. The missing piece is resigning Hedo Turkoglu, who will opt out of his contract this summer.

Both teams viewed this trade as a cost-cutting deal, but the Nets will reap their financial rewards sooner. Both Alston and Battie are in the last year of their contracts, and trading for them would shave $16.5 million off New Jersey's roster in the summer of 2010 and put the Nets well below the salary cap.

Over the life of the contracts, the Nets would save $40 million by making the deal.

It has long been discussed that the Nets are a rumored frontrunner for LeBron James, who enters free agency in 2010. James and Nets co-owner Jay-Z are very good friends and they will be atop the sweepstakes for James.

Orlando will be expected to compete for the Eastern Conference title, but will face tough competition from the Cavs with the trade for Shaquille O’Neal.

The Nets are expected to select Louisville forward Terrence Williams with the No. 11 pick in the 2009 NBA Draft, which takes place Thursday night. The Magic do not have a first-round pick.

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