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Deal is done: Kevin Garnett and Paul Pierce are Brooklyn Nets!


Leave it to Mikhail Prokhorov to put it in words that fit the occasion.

"Today, the basketball gods smiled on the Nets," Prokhorov said in a statement. "With the arrival of Kevin Garnett and Paul Pierce, we have achieved a great balance on our roster between veteran stars and young talents. This team will be dazzling to watch, and tough to compete against."

The press conference is Thursday at noon. It will be held at Barclays Center.

The deal is as has been reported with one wrinkle: The Nets receive Paul Pierce, Kevin Garnett, Jason Terry ... and the non-guaranteed contract of D.J. White. The Celtics receive Gerald Wallace, MarShon Brooks, Kris Humphries, Keith Bogans (via sign-and-trade), Kris Joseph and first-round draft picks in 2014, 2016 and 2018 plus the right to swap picks in 2017 and a trade exception valued at slightly more than $3 million. White, a 6'9" power forward, was added to make the salaries work. He is likely to be waived, according to reports. Also, Garnett will wear No. 2 as a tribute to his late Minnesota teammate Malik Sealy.

"We are excited to welcome Kevin, Paul and Jason to Brooklyn," Billy King said in a statement. "All three players have championship pedigree and possess the veteran qualities that will make us a stronger team."

The Celtics who took out full page ads thanking Pierce and Garnett for their service, issued their own statement to close the deal.

"We would like to thank Paul, Kevin, and Jason for everything that they have done for this franchise. We would not have won Banner 17 without Paul and Kevin and they will go down amongst the all-time great players to have ever worn a Celtics uniform," said Danny Ainge in a release. "At the same time we are excited to welcome Gerald, Kris, Keith, MarShon and Kris to the Celtics family. They bring a wealth of talent, experience, depth, and flexibility to our team."

Although the Celtics spoke of flexibility, they won't have it this year. They remain above the salary cap and are actually hard-capped, meaning their ability to do any deals this season are severely restricted.