9:05pm: While the two teams are engaged in discussions, nothing is close yet, a source tells Broussard. The Nets are willing to give up Kris Humphries and guard MarShon Brooks for Smith, but it almost certainly will take more to make it happen and one source said the Hawks want a first-round pick.
Broussard writes that some scenarios that have been discussed include re-acquiring Anthony Morrow, but that would not be possible. A player cannot be traded back to a team within one year of that team trading him away, according to the CBA.
The Hawks also reportedly want a young center in return for Smith so the Nets may have to get a third team involved.
7:52pm: The Nets are going hard after Hawks forward Josh Smith, sources tell Chris Broussard of ESPN (on Twitter). While General Manager Billy King & Co. have also discussed a deal for Bobcats guard Ben Gordon, Smith is the bigger priority at the moment.
Earlier today, a report suggested that the Hawks aren't actively shopping Smith, despite the whirlwind of trade talk surrounding him. Meanwhile, Broussard handicapped the odds of Smith being shipped out of Atlanta at 60% earlier this week. It makes sense that the Hawks would explore a deal as they met with the 27-year-old's representatives this week and let them know that they're not interested in signing him to the max deal that he is seeking.
If General Manager Danny Ferry can take Smith off of the books, then he could potentially have room for two max deal players this summer. That prospect combined with the return that Smith could net would seem to make him one of the stronger trade candidates as we approach the deadline. The Suns, Rockets, and Bobcats have been said to have interest in acquiring Smith while the forward would like a trade to the Mavericks or Grizzlies if he had his way.