"Today, the basketball gods smiled on the Nets," said Nets owner Mikhail Prokhorov in Brooklyn's statement. "With the arrival of Kevin Garnett and Paul Pierce, we have achieved a great balance on our roster between veteran stars and young talents. This team will be dazzling to watch, and tough to compete against."
The Nets receive Garnett, Pierce, Jason Terry, and D.J. White in the deal, while the Celtics receive Kris Humphries, Gerald Wallace, MarShon Brooks, Kris Joseph, and Keith Bogans (signed-and-traded), along with 2014, 2016, and 2018 first-round picks. The '14 pick will be the Hawks' or Nets' selection, whichever is worse. The '16 and '18 picks are unprotected. The Celtics also have the ability to swap first-rounders with Brooklyn in 2017.
The deal couldn't be formally finalized until today because Joseph wasn't eligible to be traded within three months of signing with the Celtics on April 12th.
For more details on the swap, check out our initial post on the agreement.