5:45pm: Although the two teams would like to resolve the situation soon, Garnett "doesn't want to be pressured into a quick decision," a source tells Wojnarowski (Twitter link).
5:28pm: Boston Globe scribes Baxter Holmes and Gary Washburn are both reporting (via Twitter) that the deal appears close, pending Garnett's decision. Meanwhile, Howard Beck of the New York Times tweets that the '16 and '18 first-rounders in the proposed swap would be unprotected.
5:22pm: A source tells A. Sherrod Blakely of CSNNE.com that KG is expected to touch base with Pierce before making a decision on whether or not to waive his no-trade clause (Twitter link).
4:45pm: The proposed deal has been presented to Garnett to waive his no-trade clause, according to ESPN.com's Marc Stein (via Twitter). While the move couldn't be finalized until July 10th, the Nets and Clippers are hoping to reach an agreement in principle well before then, tweets Stein.
4:29pm: If a deal was to be made, the first-rounders going from the Nets to the Celtics would be Brooklyn's 2014, 2016, and 2018 picks, tweets Wojnarowski.
4:19pm: No agreement is expected to be reached tonight, but the talks definitely have momentum, says Ken Berger of CBSSports.com (via Twitter).
4:12pm: The talks between the Nets and Celtics have now reached the ownership level, according to Wojnarowski, who says that Jason Terry has joined Garnett and Pierce as part of the package (Twitter link). On the other side, the Nets would include Reggie Evans, Keith Bogans (via sign-and-trade), and one more minimum-salary player, tweets Wojnarowski.