A rumored trade involving Portland and New Jersey has reached an in-principle agreement, Yahoo! Sports reports.

The deal will see veteran forward Gerald Wallace head to the Nets in exchange for Mehmet Okur, Shawne Williams and a protected first-round pick.

While Wallace should make a quick impact as the starting small forward for New Jersey, Portland is unlikely to see any return prior to the draft. Williams is out for the year with a foot injury, and Okur, though not technically ruled out for the remainder of the season, is also sidelined with injury and thus unlikely to be a factor for the Blazers this year.

The draft protection extends only to the top three picks.