UPDATED 5:02 p.m. EST: This will be my last post for awhile, folks. I have to write a column, and at 5:30, I get to speak with Lauren Shehadi. Lauren gets paid the big Bucks to elicit coherent commentary from an NBA writer who has slept for four of the past 36 hours. Good luck!
Updating the Orlando deal: Houston also gets Brian Cook, whose $3.5 million contract comes off the books after next season, and Memphis gets a conditional first-round pick from Orlando. Those are the other pieces.
Other deals trickling out ... three-way swap in which Toronto gets Patrick O'Bryant from Boston, Sacramento gets Will Solomon from Toronto, and the Kings ship a conditional second-round pick to the Celtics. Also, Oklahoma City sends one of the five first-round picks it has in the next two drafts to the Bulls for Thabo Sefolosha.
UPDATED 3:27 p.m. EST: The Orlando Magic slipped this one in before the deadline, getting point guard Rafer Alston from Houston in a three-team deal that also sent Kyle Lowry from Memphis to Houston, pending league approval. Orlando gets a legit PG to replace injured Jameer Nelson, and the Rockets plug Lowry into Alston's spot. There are other players and draft picks involved, but those are the principles.
UPDATED 2:39 p.m. EST: Brian Windhorst of the P-D is back with another nugget on the Cavs' efforts to obtain Shaquille O'Neal from the Suns. The talks are on life support due to the Suns' apparent request to receive Wally Szczerbiak and his $13 million expiring contract in the deal. Windhorst reports that the Cavs are trying to involve a third team, but a rival executive tells me this is all window dressing. "I think they’re swinging for the fences knowing that they're probably not going to get a pitch to hit," the exec said. "Then LeBron sees that they're trying to do stuff."
UPDATED 2:31 p.m. EST: The aforementioned trade sending Malik Rose from the Knicks to Oklahoma City for Chris Wilcox has been completed, pending league approval, CBSSports.com has learned. The Thunder also get some cash out of the deal. CBSSports.com gets nothing.
UPDATED 2:07 p.m. EST: Less than an hour to go, and the side deal the Knicks are working on is reportedly Malik Rose to Oklahoma City for Chris Wilcox in a swap of expiring contracts. The Thunder are looking to move on after their deal of Wilcox, Joe Smith, and the rights to DeVon Hardin to New Orleans for Tyson Chandler was voided over the results of Chandler's physical. While Chandler's turf toe condition has been well documented, speculation is now centering on another well-known pre-existing condition. Chandler was diagnosed with asthma in 2004.
UPDATED 1:56 p.m. EST: The Knicks have dumped one of the last remaining albatrosses from the Isiah Thomas era, sending Jerome James along with Tim Thomas and Anthony Roberson to the Chicago Bulls for Larry Hughes. None of the contracts extend into 2010-11, so the only mathematical component would be that the Knicks save about $300,000 next season -- which winds up being $600,000 due to the dollar-for-dollar luxury tax. Hughes actually will help the Knicks on the court because he fills a hole at the shooting guard spot. James has appeared in only four games the past two seasons and may never play again after enduring a litany of injuries, the latest of which was a ruptured Achilles' tendon. James made a grand total of 93 field goals for the Knicks, which amounts to about $240,000 per basket under the five-year, $30 million contract Thomas signed him to with the mid-level exception in 2005. From the Knicks' standpoint, the trade opens up two roster spots for another deal. Team president Donnie Walsh is looking to parlay Malik Rose's expiring contract into something of value and also would like to move Jared Jeffries.
UPDATED 12:41 p.m. EST: Now this is interesting. Brian Windhorst of the Cleveland Plain Dealer reports that the Cavs -- one of the most aggressive teams leading up to the deadline -- have offered Ben Wallace and Sasha Pavlovic to Phoenix for Shaquille O'Neal. At first blush, I applaud GM Danny Ferry's aggressiveness. I also cringe at what the Big Geriatric would do to the Cavs' offensive chemistry. Would this be over-reaching? On the Suns' side, I can't imagine they'll get a better offer for Shaq than a 2010 expiring contract (Wallace) and a shooter who only has $1 million guaranteed next season (Sasha). Stay tuned ...
Here's your primer for the last few hours before the trade deadline. As developments warrant throughout the day, I'll be back with updates. For now, here's the latest:
* Vince Carter: The Nets have been steadfast for weeks that they're not looking to trade him. But the trade deadline has a way of exposing poker faces. If the Nets decide to let Carter go for the best offer, it's either Houston or San Antonio. The Rockets certainly have a reason to make a push, given Tracy McGrady's season-ending knee injury. Can't think of a less Daryl Morey-like player in the league than Carter, but you never know.
* Richard Jefferson: The Bucks have been looking to move him, with Portland (possible) or Cleveland (less so) the top destinations.
* Larry Hughes/Kirk Hinrich: The Bulls are working on several smaller deals, but would love to move more salary. The Knicks and Wizards have been mentioned as possibilities for Hughes, though a person with knowledge of the situation said Washington has nothing happening on that front. (And "nothing at all" happening with the Knicks' Jared Jeffries, the source said.) Chicago has been in conversation with Minnesota about Hinrich.
* Joe Smith/Chris Wilcox: Now that they've voided the Tyson Chandler trade, the Thunder will be looking to resurrect backburner deals to move these expiring contracts. If not, the Celtics are rooting for Smith to be bought out so they can sign him and try to make him this season's P.J. Brown.
* The Baron Davis-to-Houston talks were short-lived, and as we sit here today, they're dead.
* While it remains likely that Amare Stoudemire will stay in Phoenix, the Suns haven't stopped picking up the phone. The Memphis Commercial Appeal reports that the Suns and Grizzlies on Wednesday resurrected discussions that began last week between owners Robert Sarver and Michael Heisley. I'll believe Stoudemire isn't going anywhere when the clock says 3:01 p.m.
* Keep an eye on Mark Cuban. He's never met a trade deadline he didn't like.