Adrian Wojnarowski of Yahoo Sports reported on Wednesday that Utah, New Jersey and Golden State have agreed to a multi-player trade involving All-Star point guard Deron Williams.
According to the report, the Jazz will receive rookie Derrick Favors, point guard Devin Harris and two first-round draft picks from the Nets.
New Jersey will acquire Deron Williams and the Warriors receive Troy Murphy in exchange for Dan Gadzuric.
Golden State's deal will be separate from the Jazz-Nets trade, according to Wojnarowski.
Williams is averaging 21.3 points and 9.7 assists per game with the Jazz this season.
This three-team deal comes one day after Carmelo Anthony was traded from Denver to the New York Knicks.