Rockets Acquire K.J. McDaniels

9:32pm: The trade is official, the Rockets have announced. The pick headed to the Sixers is the less favorable of Minnesota’s and Denver’s 2015 second-rounders.

3:23pm: The Sixers are trading K.J. McDaniels to the Rockets for Isaiah Canaan and a second-round pick, sources told Adrian Wojnarowski of Yahoo! Sports. It originally appeared as though Canaan was headed to the Knicks.

McDaniels is on a one-year contract for the rookie minimum, a product of an impasse in negotiations with the Sixers prior to the start of training camp. The 32nd overall pick in this past summer’s draft, he signed Philadelphia’s required tender, a non-guaranteed offer the Sixers had to extend to retain his draft rights, and he earned his place and then some on Philly’s roster, sticking past the leaguewide guarantee date to ensure he’d receive his full salary.

Canaan had an impressive training camp and averaged 24.4 minutes per game in November while starter Patrick Beverley missed time, but his playing time dried up quickly, and he’s played only a total of 37 minutes since New Year’s Day.

Suns Acquire Brandon Knight

9:16pm: The trade is official, the Suns have announced. In addition to Knight, Phoenix receives Marshall, who will be waived, from the Bucks. Milwaukee gets Ennis and Plumlee from the Suns, and Carter-Williams from Philadelphia, and the Sixers garner the Lakers’ top-5 protected 2015 first-round pick from Phoenix. By the looks of it, the component involving the Celtics will go as a separate transaction.

4:31pm: Phoenix will waive Marshall, according to Paul Coro of the Arizona Republic. Coro sums up Phoenix’s side of the deal. It’s Knight, Thornton, Marshall and the Cavs’ top-10 protected 2016 first-round pick, which Cleveland had owed to the Jazz (Twitter links). The Suns are sending Ennis and Plumlee to the Bucks, Thomas to the Celtics, and the Lakers’ top-five protected 2015 first-round pick to the Sixers, Coro tweets.

4:10pm: Kendall Marshall, who’s out for the season, is headed to the Suns in the deal, reports Shams Charania of RealGM (Twitter link). It’s undecided whether the Suns will keep him or waive him, Charania adds.

2:30pm: The Celtics will send Marcus Thornton to the Suns and the Cavaliers’ first round pick in 2016 to the Suns, according to Jeff Goodman of ESPN.com (on Twitter).

2:25pm: The breakdown, according to Stein (on Twitter) is as follows: Knight will go to the Suns.  Michael Carter-Williams, Tyler Ennis, and Miles Plumlee will go to the Bucks.  The Celtics will acquire Isaiah Thomas.  Meanwhile, the 76ers will acquire draft picks.

The Sixers will get the Suns’ protected first round pick via the Lakers, according to Jeff Zillgitt of USA Today (on Twitter).

2:15pm: Thomas is headed to the Celtics, according to Marc Stein of ESPN.com, in what essentially functions as a four-way deal with the Bucks, Suns and Sixers (Twitter link).

2:00pm: The Bucks are trading Brandon Knight to the Suns, reports Adrian Wojnarowski of Yahoo! Sports (Twitter link). There are conflicting reports regarding other details Michael Carter-Williams and Tyler Ennis are going to the Bucks, and Isaiah Thomas and picks go to the Sixers (Twitter link), according to Marc Stein of ESPN.com, while Wojnarowski has Thomas heading from Phoenix to the Celtics (Twitter link). Miles Plumlee is also headed to Milwaukee, according to Jeff Goodman of ESPN.com (on Twitter). The Sixers are getting the Lakers’ protected first-round pick that they owed to the Suns, tweets Jeff Zillgitt of USA Today.

Wolves Re-Sign Lorenzo Brown For Season

THURSDAY, 9:05pm: The deal is official, the team has announced.

3:59pm: Brown’s deal is for two years with a team option for 2015/16, Wolfson tweets.

WEDNESDAY, 11:26am: It appears the Wolves will sign Lorenzo Brown for the rest of the season, according to Darren Wolfson of 1500 ESPN Twin Cities, who figures the deal will include non-guaranteed salary for 2015/16 as well (Twitter link). Brown’s second 10-day contract with the team expired earlier this week, so any renewed commitment between the sides would have to carry through at least the end of 2014/15. The move would give the Timberwolves a full roster of 15 players signed through season’s end, unless Minnesota makes a deal in advance of the trade deadline.

The point guard has averaged 3.2 points, 3.0 assists and 1.6 turnovers in 19.6 minutes of play across five appearances so far for Minnesota. He started one of those contests, a first for the 24-year-old who was the 52nd overall pick in the 2013 draft. He didn’t make the Wolves out of camp as a rookie, appearing in 26 games for the Sixers before they cut him loose. Brown was in Pistons camp this past fall, and Detroit appeared to again be in contention for him until the Wolves released Miroslav Raduljica so they could snap him up.

Minnesota has a prorated portion of the mid-level exception it could give to Brown, but instead the team will likely use the minimum-salary exception, meaning his deal wouldn’t extend any longer than 2015/16. He’d still face an uphill battle to make the team for next season, since players who sign multiyear deals after joining teams on 10-day contracts don’t often stick unless they’re particularly impressive.

Rockets Acquire Pablo Prigioni

8:36pm: The trade is official, the Knicks have announced. The 2017 and 2019 second-rounders going to New York are Houston’s own, according to the Rockets announcement.

3:15pm: New York is getting Alexey Shved and two second-round picks, but not Canaan, according to Wojnarowski. The second-rounders are for 2017 and 2019, writes Marc Berman of the New York Post.

2:06pm: The Knicks are trading Pablo Prigioni to the Rockets, according to Adrian Wojnarowski of Yahoo! Sports (Twitter link). Isaiah Canaan is headed to New York in the deal, as Ramona Shelburne of ESPNLosAngeles.com reports (on Twitter).

Timberwolves Acquire Kevin Garnett

8:28pm: The trade is official, the Nets have announced in a press release.

3:11pm: The Wolves want to re-sign Garnett for two more seasons this summer, according to Jon Kraczynski of The Associated Press (Twitter links). Garnett has known of this desire, Krawczynski adds, speculating that it factored into his decision to waive the no-trade clause.

1:44pm: Kevin Garnett has agreed to waive his no-trade clause and the Nets will trade him to the Timberwolves for Thaddeus Young, reports TNT’s David Aldridge (Twitter link). The teams had been waiting on him to give his OK to the deal that will send him back to where his NBA career began nearly 20 years ago. ASM Sports, the agency for Garnett, has confirmed the agreement via Twitter (hat tip to Tim Bontemps of the New York Post).

The 38-year-old is earning $12MM for the season, and will become an unrestricted free agent at the end of the campaign. The veteran has appeared in 42 games for Brooklyn this season, and is averaging 6.8 points, 6.8 rebounds, and 1.6 assists in 20.3 minutes per night. Garnett’s career averages are 18.3 PPG, 10.2 RPG, and 3.8 APG. His career shooting percentages are .497/.276/.790.

Garnett has said in the past that he hopes to buy the Wolves when his playing days are over.  The veteran had a no-trade clause in his contract and while he was reluctant to waive it all, he eventually did leave the door open for a deal that would bring him back to Minnesota.  There was also strong interest from the Clippers and coach/executive Doc Rivers, but KG was against the idea of a buyout.

Young, 26, is making $9,410,869 this season, and he has a player option worth $9,971,739 for the 2015/16 campaign. The 6’8″ forward has appeared in 48 games for Minnesota this season, and is averaging 14.3 points, 5.1 rebounds, and 2.8 assists in 33.4 minutes per game. His career numbers are 13.8 PPG, 5.5 RPG, and 1.5 APG. Young’s career slash line is .495/.319/.698.

Just a few days ago, it was reported that Wolves president Flip Saunders had shown little inclination towards trading Young.  Of course, the deadline has a way of changing those things.  Recently, our own Chris Crouse analyzed Young as a trade candidate.

Celtics Trade Tayshaun Prince To Pistons

7:49pm: The trade is official, the Pistons have announced in a press release. “Tayshaun Prince is certainly well known to fans in Detroit and we’re pleased to welcome him back,” said Stan Van Gundy, Detroit’s coach and president of basketball operations.  “He fills a position of need for us at small forward with his offensive and defensive versatility.  We thank both Jonas and Gigi for their hard work and wish them well going forward.”

6:26pm: The Pistons intend to keep Prince, Ellis tweets.

2:23pm: The Pistons are acquiring Tayshaun Prince from the Celtics, reports Marc Stein of ESPN.com (Twitter link). Gigi Datome and Jonas Jerebko head to Boston in return, according to Vince Ellis of the Detroit Free Press (on Twitter).

In 917 career games, Prince has averaged 11.9 points, 4.5 rebounds, and 2.5 assists. His career slash line is .455/.369/.758.

Heat Acquire Goran Dragic

7:38pm: The trade is now official, the Pelicans and Suns have announced. New Orleans acquired Norris Cole, Shawne Williams, Justin Hamilton and cash considerations from Miami, the Suns get John Salmons from the Pelicans and Danny Granger from the Heat, and Miami garners Goran Dragic and Zoran Dragic from the Suns. Phoenix also received Miami’s 2017 first-round pick (top seven protected) and Miami’s unprotected 2021 first-round pick as part of the deal. Phoenix is waiving Salmons, per the Suns’ official press release.

3:36pm: The expectation is that the Heat will offer Dragic a five-year max deal this summer, according to Ramona Shelburne of ESPNLosAngeles.com (Twitter link).

2:48pm: There are other components to the trade agreement, which also involves the Pelicans, as we explain here.

2:09pm: The Suns will get Danny Granger and 2017 and 2019 first-round picks with protections for Dragic, according to Paul Coro of The Arizona Republic (on Twitter).

Granger, 32 in April, has averaged 6.3 PPG and 2.7 RPG for the Heat this season since coming back from a hamstring injury.  Of course, the draft picks are the center of the deal for Phoenix and not the veteran forward.  Granger is earning $2.1MM this season and he also has a player option for the same amount in 2015/16.

1:49pm: The Heat and Suns have agreed to a deal that sends Goran Dragic to Miami, reports Marc Stein of ESPN.com (Twitter link).  The Heat have long coveted Dragic and view him as just the sort of player they need to make a playoff push, Chris Mannix of SI tweets.

The Heat currently stand at 22-30 with a leg up over the likes of the Nets, Celtics, PIstons, and Pacers for the eighth and final spot in the Eastern Conference playoffs.

Pistons Acquire Reggie Jackson

7:13pm: The release on the Thunder’s website indicates that the Thunder received Detroit’s unprotected 2019 second-round pick, too.

6:34pm: The Jazz have formally announced that the deal is official. The Pistons and Thunder have also confirmed the trade in press releases. Utah has acquired Jerrett, the rights to Pleiss, Perkins, and a future first-round pick from Oklahoma City, as well as a 2017 second-round pick from the Pistons. The Thunder will receive Kanter and Novak from Utah, and Augustin and Singler from the Pistons, while Detroit garners Jackson.

4:06pm: The Jazz are getting Jerrett, a protected first-round pick from the Thunder and a second-rounder from the Pistons in addition to Kanter and the rights to Pleiss, reports Brian Windhorst of ESPN.com (Twitter link).

3:49pm: Several picks are changing hands in the deal as well, according to Ken Berger of CBSSports.com, suggesting that a significant chunk of the draft considerations are heading Utah’s way (Twitter link).

3:33pm: The Thunder dealt for Kanter with the intention of re-signing him this summer, tweets Adrian Wojnarowski of Yahoo! Sports.

3:25pm: Grant Jerrett is headed out in the deal, too, according to Mayberry, though he doesn’t specify which team he’s going to (Twitter link). The Thunder are expected to waive Ish Smith to accommodate all the moves, Mayberry adds.

2:49pm: The Thunder will send the draft rights to center Tibor Pleiss to the Jazz, according to Darnell Mayberry of The Oklahoman (on Twitter).

2:44pm: Guard D.J. Augustin is headed from the Pistons to OKC in the deal, according to Wojnarowski (on Twitter). The former No. 9 overall pick averaged 10.6 PPG and 4.98 APG in 23.8 minutes per game for the Pistons this season.

2:15pm: Steve Novak is heading from the Jazz to the Thunder in the deal, according to David Aldridge of NBA.com (on Twitter).  Jody Genessy of The Deseret News (on Twitter) first reported that Novak would be included in the three-way swap.

1:56pm: It’s now a three-way deal, according to Wojnarowski (via Twitter links).  The Jazz will send Enes Kanter to OKC, the Thunder will ship Kendrick Perkins to Utah, and Detroit will send Kyle Singler to OKC.

Talks with the Jazz about Kanter picked up today as OKC weighed the pros and cons of the Nets’ Brook Lopez/Jackson proposal.  For his part, Kanter made it clear last week that he’s frustrated with his role and wants a trade.  In 49 games this season, Kanter has averaged 13.8 PPG and 7.8 RPG – both career-highs, in 27.1 minutes per contest.  For his career, the former No. 3 overall pick has put up 9.3 PPG and 5.9 RPG across four seasons in Utah.

Perkins, 30, is now slated to join the third franchise in his NBA career.  The big man has been playing mostly in a reserve role this season, averaging 4.0 PPG and 5.5 RPG in 19.2 minutes per contest.  In total, Perkins has put up 5.6 PPG and 6.0 RPG over the course of 12 seasons with the Celtics and Thunder.

1:50pm: The Thunder have traded Jackson to the Pistons, according to Adrian Wojnarowski of Yahoo Sports (on Twitter).

1:34pm: The Pistons are making a strong run at Reggie Jackson, a league source tells Adrian Wojnarowski of Yahoo! Sports (Twitter link).  Jackson appeared to be Brooklyn-bound earlier today, but it’s not clear if that deal will be consummated.

The Thunder and the Nets were discussing the framework of a deal that would involve Brook Lopez going to OKC and Jackson going to Brooklyn.  However, the Thunder pumped the breaks a bit on the talks when they started looking at a deal with another team.  Given that Detroit is enthusiastic about landing Jackson, the PIstons might be the party putting a spoke in that wheel.

Jackson’s agent, Aaron Mintz, recently requested that the Thunder trade his client, who’s due for restricted free agency this summer. The Kings, Bucks, Heat, Pacers, Rockets and Nuggets also registered their interest in Jackson, while there are conflicting reports about whether the Celtics are pursuing him.

The 24-year-old turned down an extension offer in the neighborhood of four years and $48MM this past fall, according to USA Today’s Sam Amick (Twitter link). That was around the time teams around the league thought he’d end up commanding $13-14MM a year this summer, as Adrian Wojnarowski of Yahoo! Sports reported at the time.

Pelicans Release Toney Douglas

6:58pm: New Orleans has officially released Douglas, the team has announced. The Pelicans roster count stands at 13 players.

2:35pm: The Pelicans are releasing Toney Douglas from his 10-day contract, reports Shams Charania of RealGM (Twitter link). Douglas just signed the pact Wednesday. New Orleans will be on the hook for the full $53,838 value of the deal. Douglas immediately goes to free agency, since waivers aren’t involved with 10-day deals.

Douglas appeared in three games for New Orleans, averaging 9.0 points, 4.0 assists, 2.3 rebounds and 1.3 steals in 22.0 minutes per game.

Kings, Wizards Swap Sessions, Miller

4:53pm: The Kings have followed with an official announcement of their own.

“Adding Andre bolsters our backcourt with one of the most prolific ball distributors in the game,” Kings GM Pete D’Alessandro said. “He’ll also provide veteran leadership to the locker room and a wealth of experience at the point guard position. We’re excited to have him join the team. We also want to thank Ramon and wish him the best moving forward.” 

4:13pm: The deal is official, the Wizards announce.

Ramon is a proven veteran who will bring an up-tempo style to our second unit and give us quickness, energy and defensive presence, Wizards GM Ernie Grunfeld said. He can make plays for himself as well as others and will help to solidify our bench as we head into the final 28 games of the season and the playoffs.  

11:02am: The Kings and Wizards have agreed to swap Ramon Sessions and Andre Miller, reports Adrian Wojnarowski of Yahoo! Sports (Twitter link). New Kings coach George Karl had pushed to acquire Miller, whom he coached in Denver, Wojnarowski writes in a full story. The Wizards had been seeking an upgrade in the backcourt as Miller had lost playing time to Garrett Temple of late.