The Cleveland Cavaliers will trade Jarrett Jack to the Brooklyn Nets on Thursday as part of a three-team deal that includes the Boston Celtics in order to create more salary-cap space for the pursuit of LeBron James, according to sources close to the process.
Sources told ESPN.com that the Nets have agreed to take on the contracts of Jack and youngster Sergey Karasev from the Cavaliers in a swap that also will see the Celtics acquire Brooklyn's Marcus Thornton, Cleveland's Tyler Zeller, and a future first-round pick from the Cavaliers.
Cleveland will have to acquire at least one future second-rounder from either Brooklyn or Boston to complete the transaction, but the moves will give the Cavaliers significant financial flexibility, shedding Jack, Zeller and Karasev from their roster.
The trade can't be officially consummated until Thursday, when a league-wide moratorium on signings and trades is lifted at 12:01 a.m.
The Celtics will receive a 2016 top-10 protected first-round pick from the Cavaliers. That protection rolls over for two additional seasons before becoming unprotected in 2019.