SUNDAY, 12:52pm: The trade can't be made official until July 12th because of a hang-up related to Kris Joseph, tweets Marc Stein of ESPN.com. Players typically can't be traded within three months of signing a free agent contract, and Joseph signed with the Nets on April 12th, so presumably that's the reasoning.
The Nets will receive Garnett, Pierce, and Terry. The Celtics will receive Humphries, Wallace, Brooks, Joseph, Bogans, and 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 will be unprotected. The Celtics also have the ability to swap first-rounders with Brooklyn in 2017.
Based on these pieces, Bogans figures to get a 2013/14 salary of more than $2MM in the sign-and-trade part of the deal, by my math, which works out nicely for him.
7:41am: According to Josh Newman of SNYNets.com, Evans has been informed he won't be included in the deal, but MarShon Brooks will be sent to the Celtics instead. Because Brooks' salary is smaller than Evans, that would mean a larger starting salary for Bogans in the sign-and-trade portion of the deal, unless Shengelia is involved in the final agreement.
FRIDAY, 12:53am: Because Bogans needs to be signed-and-traded, no deal between Brooklyn and Boston can be made official until July 10th, but the agreement appears on track to be approved by all involved parties.
By my math, if Shengelia is not in the trade, Bogans will need to be signed to a starting salary of $1,731,294 in order for the Nets to send out as much outgoing money as the CBA requires for Garnett, Pierce, and Terry.
THURSDAY, 10:20pm: Kris Joseph will be included in the deal, heading to Boston, and the Celtics will also have the option to swap 2017 first-round picks with Brooklyn, tweets Wojnarowski. Joseph's contract is non-guaranteed, so the C's could waive him after acquiring him if they so choose.
10:10pm: Shengelia is not part of the latest version of this deal, according to Ken Berger of CBSSports.com (via Twitter). I'll have to double-check the math, but I believe the Nets would need to include at least one more player to make the salaries work if they're taking on Terry as well.
9:58pm: Kevin Garnett will agree to waive his no-trade clause to accommodate a deal that will send him and Paul Pierce to the Nets, reports Adrian Wojnarowski of Yahoo! Sports (via Twitter). As part of the agreement, Brooklyn will guarantee KG's full salary for 2014/15, according to Wojnarowski (via Twitter). Garnett's $12MM salary for that season had only be guaranteed for $6MM up until this point.
It's not entirely clear which players will be involved in the deal, but it looks like Jason Terry will be headed to the Nets along with Garnett and Pierce. Boston is expected to acquire Kris Humphries, Gerald Wallace, Keith Bogans (via sign-and-trade), Reggie Evans, and Tornike Shengelia. The Celtics will also receive 2014, 2016, and 2018 first-round picks, with no protection on the '16 or '18 selections, according to today's earlier reports.
Due to all the moving pieces involved, the two sides won't be able to formally complete the deal until July 10th, when the July moratorium lifts. When it becomes official, it will mark the next step in a full-scale rebuilding process for the Celtics, who also allowed Doc Rivers to join the Clippers in exchange for a 2015 first-round pick.