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Nets trade Steve Blake to Pistons for non-guaranteed Quincy Miller

Jerome Miron-USA TODAY Sports

In a bid to save money, reduce their roster further and add financial flexibility, the Nets have traded veteran point guard Steve Blake to the Pistons for 6'10" forward Quincy Miller, who they will bring in to training camp.

Blake was acquired from Portland in a Draft Night deal along with the rights to Rondae Hollis-Jefferson.

Shams Charania of RealGM broke the story in a tweet

Early Tuesday morning, Marc Stein reported that the Nets would not be releasing the 22-year-old Miller, but instead will give him a tryout.  He played well in the D-League, averaging 23.8 points and 7.8 rebounds while shooting 35.7 percent from three.

Miller, a third year player, is non-guaranteed as long as he's off the books by Wednesday. Even if he lasts beyond that, he's only guaranteed $50,000 through the first game of the regular season in November.  So the Nets will lose Blake's $2.2 million contract without taking on any additional salary beyond $50,000.

Bobby Marks, the Nets former assistant GM (and Twitter's capologist) explained the value of the deal for both teams.

Earlier Monday, the Nets dumped Cory Jefferson who was on the books for $845,000, meaning the team saved $3 million, getting them further under the luxury tax threshold.

With Miller, the Nets would  have 17 players under contract, 12 of them guaranteed., and according to Stein will be "$730,000 and change UNDER the NBA's luxury-tax line."  The departure of the 35-year-old Blake means the Nets now have only two players over 30 -- Joe Johnson, 34, and Jarrett Jack, 31.