After missing out on Dwight Howard, the Nets are doing all they can to not lose Deron Williams.
Yahoo! Sports' Adrian Wojnarowski is reporting that New Jersey has acquired Blazers small forward Gerald Wallace.
Portland, according to Wojnarowski, gets Mehmet Okur, Shawne Williams and a 2012 first round pick. The pick is protected for the top three.
New Jersey had been looking to either acquire Howard via trade, or sign him to a free agent deal in the offseason. However, Howard waived his early termination option earlier today, meaning he'll remain under contract with Orlando through the 2012-13 season. Wallace could be the first of several acquisitions in an attempt to appease Deron Williams by surrounding him with talent.
In addition to being one of the best defenders in the league, Wallace is averaging 13.3 points and 6.6 rebounds per game. He has a player option worth $11.4 million for the 2012-13 season.
The Blazers have been in a freefall the last couple of months. After starting 7-2, they have lost 21 of 34 games, culminating in an embarrassing 42-point loss to the Knicks Wednesday night.
Shawne Williams has a $3.2 million player option next season, while Okur's contract is up at the end of this season.