The New Jersey Nets have acquired Gerald Wallace from the Portland Trail Blazers, according to a Yahoo report.

The Nets will send Mehmet Okur, Shawne Williams and a protected first-round pick to Portland, Adrian Wojnarowski reports. The pick is protected only through the top three spots.

The teams have agreed to the deal in principle and it likely gained steam once Dwight Howard committed to staying in Orlando. The NBA trade deadline is 3 p.m. EDT.

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