5:49pm: The second-round picks the Blazers will get are both for 2013, tweets Joe Freeman of The Oregonian. They'll receive the Celtics' own selection, along with the Timberwolves' pick that the C's acquired in an earlier deal. Freeman also passes along word from Blazers GM Neil Olshey, who says he is hopeful Pavlovic will make the team out of camp (Twitter link). Freeman confirms, via Twitter, that the Celtics will send the Blazers cash to cover Pavlovic's salary, which will likely be the veteran's minimum. Pavlovic's 2012/13 contract is non-guaranteed, so he could be waived without the Blazers taking a cap hit, Freeman confirms in an email to Hoops Rumors.
4:05pm: In making their own official announcement about the trade, the Trail Blazers noted that they'll acquire two future second-rounders from the Celtics, rather than just one (Twitter link).
2:12pm: The Rockets have officially announced the Lee sign-and-trade agreement in a press release. Based on the team's announcement and a tweet from Gary Washburn of the Boston Globe, the deal looks like this:
- Celtics receive: Courtney Lee (sign-and-trade from Rockets)
- Rockets receive: JaJuan Johnson, E'Twaun Moore, Sean Williams, Bobcats' 2013 second-round pick (from Celtics), and the rights to Jon Diebler (from Trail Blazers)
- Trail Blazers receive: Sasha Pavlovic, second-round pick (from Celtics)
According to ESPN.com's John Hollinger (via Twitter), Lee will earn exactly $5MM in his first year, making his total contract worth the same as the maximum mid-level exception (four years, $21.35MM). The Rockets, meanwhile, are expected to waive Moore and Williams in the very near future. Diebler, the player whose rights Houston receives from Portland, was selected by the Blazers 51st overall in 2011 and spent last season overseas.