The New Jersey Nets have agreed in principle to send Vince Carter(notes) and Ryan Anderson to the Orlando Magic for Rafer Alston(notes), Tony Battie(notes) and Courtney Lee(notes), two league executives told Yahoo! Sports.
The Nets will draft Louisville shooting guard Terrence Williams at No. 11, if he's still available.
The move frees the Nets of the three years and $52 million remaining on Carter's contract. Only $4 million of his $18 million final season is guaranteed.
The trade comes one day after the Cleveland Cavaliers acquired Shaquille O'Neal to help them better match up with the Magic and center Dwight Howard. The Cavs and San Antonio Spurs both engaged in trade talks with the Nets about Carter before moving on to their options. The Spurs ended up trading for Milwaukee Bucks forward Richard Jefferson.
Less than two weeks after losing to the Los Angeles Lakers in the NBA Finals, the Magic have added another potentially dynamic scorer to their lineup. Carter, 32, averaged 20.8 points last season and has the 3-point range needed to space the floor for Howard.
Considering how much money the Magic have invested in Carter, it appears less likely they will also spend heavy to re-sign Hedo Turkoglu.