9:52 pm: The trade is official, according to announcements from the Celtics and the Nets. Brooklyn sent cash to Boston to complete the deal and has formally waived Cam Thomas to make room on the roster for Minott.

The Celtics received $110K from the Nets, tweets Brian Lewis of The New York Post. That was the minimum necessary to make the deal legal.


1:15 pm: The Celtics are trading Josh Minott to the Nets, Shams Charania reports for ESPN (Twitter link). According to Erik Slater of ClutchPoints (Twitter link), no additional players or draft picks are involved in the deal.

Boston signed Minott last summer to a two-year, minimum-salary deal that includes a second-year team option. The athletic 6’8″ wing appeared in 33 games for the Celtics this season, including 10 starts, and averaged 5.8 points and 3.6 rebounds while shooting 44.2% from three.

While Minott played reasonably well in Boston, he has been out of the rotation since before Christmas, and moving off his contract will help the Celtics reduce their luxury tax bill or perhaps even get out of the tax entirely, though at least one more move would be necessary to accomplish that.

Keith Smith of Spotrac (via Twitter) points to Xavier Tillman Sr. as a name to keep an eye on if the Celtics are aiming to duck the tax.

[UPDATE: The Celtics have indeed traded Tillman.]

As for the Nets, they’ll use their cap room to absorb Minott’s contract. It’s unclear whether they like him and will make him part of their plans going forward or if they’re being incentivized with cash to take on his remaining salary.

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