Rick Bonnell, the Bobcats beat writer, reports the outlines of a proposed trade between Charlotte and New Jersey would have the Nets give up Jordan Farmar, Johan Petro and the Houston Rockets protected first round pick for Boris Diaw's $9 million expiring contract. Such a deal, essentially a salary dump for both teams, could shave $8 million off next season's cap.

"The New Jersey Nets would like Boris Diaw’s expiring $9 million contract number, and they’d give up the future first-round pick the Houston Rockets owe them to accomplish that," Bonnell writes. "The Bobcats would have to take players with financial obligations beyond this season," specifically Farmar and Petro.

Farmar, who has a player option, earns $4.25 million next season while Petro earns $3.5 million. The Houston pick, if exercised, would add around $1.5 million to the cap. On the other side of the ledger, the Nets would have to add about $500,000 in cap holds to replace the three players. The Nets would need as much salary space as possible to sign Dwight Howard and retain both Deron Williams and Brook Lopez.

• Observations: Bobcats at Hornets - Rick Bonnell - Charlotte Observer