Nets, Celts must wait until July 12
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The trade sending Kevin Garnett, Paul Pierce and Jason Terry from the Boston Celtics to the Brooklyn Nets cannot be officially completed until July 12 -- two days after the league's annual July moratorium is lifted -- because of a salary-cap technicality, sources told ESPN.com's Marc Stein.
The Nets' inclusion of April signee Kris Joseph in the trade means that Brooklyn and Boston have to wait until July 12, as opposed to July 10, because Joseph can't be traded until after three months have elapsed from the day he signed with the Nets as a free agent.
Brooklyn agreed on Thursday to send three first-round picks (2014, '16 and '18) along with Joseph, Kris Humphries' expiring contract, Gerald Wallace, MarShon Brooks and a sign-and-traded Keith Bogans to the Celtics for Pierce, Garnett and Terry.
Because Pierce is making nearly $17 million this season, Brooklyn needs the deal to wait until after the start of free agency and the lifting of the moratorium on July 10, because the $15.3 million team option the Celtics had on their longtime captain is used in the trade.
ESPN.com senior writer Marc Stein and ESPN The Magazine's Chris Broussard contributed to this report.
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