NBA free agency: Wizards to acquire Nets' Spencer Dinwiddie in sign-and-trade involving five teams, per report

Dinwiddie's new deal would net him a reported $62 million over three years

The Washington Wizards are adding one of the best remaining free agents on the open market after reportedly coming to an agreement to acquire Spencer Dinwiddie from the Brooklyn Nets in a sign-and-trade, according to Shams Charania of The Athletic. Dinwiddie is set to earn $62 million over the course of three years in his new deal with the Wizards. 

In the end, according to ESPN's Adrian Wojnarowski, the trade will be added to Washington's draft night moves involving the Lakers and Pacers to make this a five-team deal also including the San Antonio Spurs. To close this deal out, Washington will be sending the Spurs Chandler Hutchison and a 2022 second-round pick. The Wizards will also be sending a 2024 second-round pick and a 2025 second-round pick swap to the Nets in exchange for the point guard. Since the Wizards did not have the cap space to sign Dinwiddie outright, GM Tommy Sheppard was forced to put together a complicated sign-and-trade agreement in order to land his man. 

The Nets are far above the luxury tax entering next season, thanks to their three superstars: Kevin Durant, Kyrie Irving and James Harden. Throw in big contracts for Joe Harris and DeAndre Jordan that are also on the books, and the Nets might wind up being the most expensive team in basketball next season. 

Dinwiddie will be replacing Russell Westbrook at point guard for the Wizards, completing a roster overhaul that has taken place in less than a week. The Wizards hope those moves convince Bradley Beal to remain in Washington for the long haul. As the Nets learned in 2019, Dinwiddie is an excellent free-agent recruiter. Assuming a deal gets done, he'll now have a year to try to persuade Beal to stay with him in the nation's capital.