FRIDAY, 11:51am: The Hornets' acquisition of Robin Lopez is complete, says Jimmy Smith of the Times Picayune, who adds that New Orleans will end up with Hakim Warrick as well (Twitter links). We'll have to wait for further reports or an official announcement to see how the full deal looks.
THURSDAY, 8:20pm: There won't be a resolution to the deal on Thursday night but the odds of the trade going through have improved, tweets Coro. The Hornets' cap situation is not holding up the deal from progressing further.
1:40pm: Alex Laugan of Bright Side of the Sun provides a fantastic breakdown of why this deal is currently on hold, as the Hornets' side of the transaction needs to be modified to be legal under the CBA. In all likelihood, New Orleans will need to include at least one more player or remove Hakim Warrick from the deal to make it work.
10:15pm: According to a tweet by Jerry Zgoda of the Star Tribune, the Wolves are getting a third second-round draft choice in the deal, though it's unclear from whom. Two of them are the same picks Minnesota traded to the Hornets earlier this month, Zgoda says.
7:47pm: The Suns will waive Miller once the deal is finalized, reports Paul Coro of the Arizona Republic. Coro also notes that if the draft pick that goes to the Suns from the Timberwolves is the one that the Grizzlies owe Minnesota, it's lottery-protected for four years (Twitter links).
3:26pm: The three-way trade that would send Lopez and Warrick to New Orleans and Johnson to Phoenix has been agreed upon, reports Brent Martel of the Associated Press (link via the Star Tribune). According to Martel, all that's left is to work through "some routine logistical matters." To recap, while the deal isn't official yet, this is how it looks, as reported so far:
7:49am: If the three-team deal goes through, Lopez will receive a three-year contract worth $15MM+ from the Hornets, according to Adrian Wojnarowski of Yahoo! Sports.
TUESDAY, 9:43pm: According to ESPN.com's Chris Broussard, the Hornets would move Brad Miller's contract to the Suns. It's unclear what Minnesota would get from the deal, except cap space to acquire Andrei Kirilenko. New Orleans and Phoenix discussed a similar four-team trade last week, with Boston and Houston replacing Minnesota, but the Suns pulled out as the deal fell apart, which is when the Timberwolves entered the picture.
7:19pm: Minnesota will likely receive Brad Miller's contract, Jerome Dyson, and draft picks, tweets Wojnarowski. However, Mark Deeks of Shamsports.com has tweeted that the Timberwolves are unable to trade for Miller again this year.
6:27pm: The Hornets, Suns, and Timberwolves are nearing a three-team sign-and-trade deal that would send Robin Lopez to the Hornets, tweets Yahoo! Sports columnist Adrian Wojnarowski. Earlier today Wojnarowski reported that the Hornets and Suns were interested in conducting a sign-and-trade deal, but Minnesota's entry into the deal is a new development.