The Hornets agreed in principle Saturday to acquire Jarrett Jack(notes) plus forward-center David Andersen(notes) and point guard Marcus Banks(notes) from the Raptors for sharpshooter Peja Stojakovic(notes) and guard Jerryd Bayless(notes), according to league sources.
Since Bayless can't be included in a multi-player deal prior to Dec. 23 because of trade restrictions, it's two deals with Bayless for Andersen and Stojakovic for Jack and Banks.
The hot Hornets (10-1) acquire a solid veteran to back up Chris Paul in Jack, who has averaged 10.8 points and 4.5 assists while starting in all 13 games for Toronto this season. Expect Paul to also play off the ball at times, with Jack running the point. The Raptors have wanted to trade Jack or point guard Jose Calderon(notes), who have been splitting time at the position thus far.
Andersen will add depth to the Hornets' frontline while Banks will serve as an emergency point guard.
In Stojakovic, the Raptors get a three-time NBA All-Star in the twilight of his career. Stojakovic, who has averaged 7.5 points in six games this season, gives the Raptors a major expiring contract – the veteran is making $14.2 million in the final year of his deal. Stojakovic agreed to reduce his $1.25 million trade clause to make the trade.
The Hornets just acquired Bayless from the Portland Trail Blazers in exchange for a conditional future first-round pick on Oct. 23. Bayless struggled with his shooting with New Orleans, averaging 4.5 points on 34.7 percent shooting from the field in 11 games, and is more of a combo guard than backup point guard. With Marcus Thornton(notes) and Willie Green(notes) also on the Hornets' roster, one of those three combo guards was expendable.