The Orlando Magic are set to complete a pair of blockbuster trades that will send them Washington Wizards guard Gilbert Arenas(notes) and Hedo Turkoglu(notes) and Jason Richardson(notes) from the Phoenix Suns, league sources told Yahoo! Sports
As a prelude to the trade for Arenas, the Magic have agreed in principle to send guards Vince Carter(notes) and Michael Pietrus, backup center Marcin Gortat(notes), a first-round pick and $3 million to the Phoenix Suns for Turkoglu and Richardson, sources said.
The Magic also are nearing completion on a deal to send forward Rashard Lewis(notes) to the Wizards for Arenas, sources said. No other players or picks will be in that trade.
The Wizards’ pursuit of Arenas escalated in recent days, and Yahoo! Sports reported Friday the teams were nearing a deal.
Arenas had privately told people for days that he believed a deal will soon send him to Orlando, where he’ll be reunited with Magic general manager Otis Smith, a friend and mentor from Arenas’ days with the Golden State Warriors. After losing five of their past six games, the Magic have shown more urgency to find a perimeter scorer who can help them stay a viable contender in the Eastern Conference.
Arenas has four years and $60 million left on his Wizards deal. Following his 50-game suspension for bringing guns into the Wizards locker room last season, Arenas became further expendable after Washington drafted No. 1 overall pick John Wall(notes)(notes).
Lewis has three years and $66.5 million left on his contract, including this season
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