WEDNESDAY, 4:37pm: The Nuggets and Jazz have issued press releases officially announcing the three-way deal. Denver will send the Jazz a future second-round pick, as previously reported, but will also receive a future second-rounder from the Warriors in the deal. As I predicted yesterday, Golden State's trade with Utah has also been rolled into this one. In all, the deal looks like this:
- Utah receives Andris Biedrins, Richard Jefferson, Brandon Rush, two first-round picks (2014 and 2017 from Warriors), three second-round picks (2016 and 2017 from Warriors, 2018 from Nuggets), and cash (from Warriors).
- Denver receives Randy Foye (via sign-and-trade) and a second-round pick (2018 from Warriors).
- Golden State receives Andre Iguodala (via sign-and-trade) and Kevin Murphy.
TUESDAY, 3:30pm: The Nuggets, not the Warriors, will send the Jazz a 2018 second-rounder in the trade, according to Genessy (via Twitter).
This strongly suggests to me that the Warriors and Jazz will be folding their earlier agreement into this deal, since not doing so would mean there are no outgoing pieces coming from Golden State. As noted below, folding the two deals into one should allow the Warriors to keep a $11MM+ TPE rather than a $9MM one.
MONDAY, 3:20pm: The Warriors, Nuggets, and Jazz have agreed to a three-way trade that will send Randy Foye to Denver and Andre Iguodala to Golden State via sign-and-trades, according to Jody Genessy of the Deseret News. Genessy reports that the Jazz will receive a 2018 second-round pick from the Warriors in the deal. Adrian Wojnarowski of Yahoo! Sports reported late last night that the three teams were involved in "advanced discussions."
According to Wojnarowski's initial report, Foye will receive a three-year, $9MM contract from the Nuggets, with a team option on the third season. ESPN.com's Marc Stein first reported late last night that Foye and the Nuggets were closing in on a verbal agreement. Meanwhile, the deal will mean yet another pick headed to Utah from the Warriors, who are already set to send the Jazz multiple picks in another trade agreement.
Over the weekend, I explained why the Warriors would likely pursue a sign-and-trade agreement with Denver rather than sign Iguodala outright, despite having already agreed to a four-year contract with him. In that piece, I suggested that Golden State would take on Iguodala using the $11,046,000 trade exception the team will create by moving Richard Jefferson, allowing the club to retain its other TPEs and the full mid-level. However, by incorporating Utah into this deal, the Warriors may be able to combine their two agreements with the Jazz into one trade, allowing them to keep the slightly larger Jefferson TPE rather than the $9MM exception for Biedrins.
For Denver, the agreement will allow the team to add Foye and create a trade exception worth Iguodala's new salary. Since the Nuggets project to be an over-the-cap team, it looks like they'll have to use some of that Iguodala TPE in order to acquire Foye, but there still should be $8MM+ left on it when the dust settles.