UPDATE: Nets got two — not five — picks for Jae Crowder to Bucks but did add bigger trade exception

It seemed too good to be true and it was.

Shams Charania reported early Thursday that the Nets were sending Jae Crowder to the Milwaukee Bucks for five second rounders in a three-way deal that also involves the Pacers.

However, the Nets decided to roll all their deadline day activity into one four-team deal: the Nets, Suns, Bucks and Pacers who served as facilitators. Instead of getting five picks, they wound up with two — the Bucks picks in 2028 and 2029.

Here’s the full trade, per Nets PR

The Brooklyn Nets have acquired forwards Mikal Bridges and Cam Johnson and draft compensation in a four-team trade with the Phoenix Suns, Milwaukee Bucks and Indiana Pacers. Brooklyn acquired Bridges, Johnson, first round draft picks in 2023, 2025, 2027 and 2029 and a first round pick swap in 2028 from Phoenix in exchange for forwards Kevin Durant and T.J. Warren. The Nets also acquired second round draft picks in 2028 and 2029 from Milwaukee and the draft rights to guard Juan Pablo Vaulet from Indiana in the deal.

The Pacers also report that the Nets sent cash considerations — $1.36 million — to Indiana to facilitate the deal.

In the rejiggered deal, they also wound up with a $18.1 million trade exception, more than double what the TPE would have been worth — $7.9 million — if the Nets had simply done multiple independent deals. (They also generated a $5.0 million exception in the Kyrie Irving trade.)

Crowder’s rights were acquired in the Kevin Durant trade earlier Thursday and he had expected to be moved. With the addition of the second rounders, the Nets added four first rounders, a first round pick swap and the two seconds since midnight. They now have eight seconds through 2029.

The four-team deal also means the Nets will re-acquire the draft rights to Juan Pablo Vaulet who the Nets traded for in the 2015 NBA Draft, then sent to Indiana last year for Edmond Sumner. Sumner, who was out for the season, was waived by the Nets then re-signed this summer.

Re-acquiring Vaulet’s rights appears to be more a way to make the deal work under the CBA rather than a renewed interest in the 26-year-old 6’7” forward who now plays for BAXI Manresa in Spain. The native of Argentina is averaging 9.4 points.

Crowder hasn’t played since the Suns were eliminated in the Western Conference Finals last June. He had hoped that Phoenix would extend him, but when they didn’t, Crowder decided to sit out the season until he could be traded to another team.

Crowder is being paid $10.2 million this season and by moving him for picks, the Nets will save even more money on luxury taxes. As Alex Schiffer told Shams...

The Nets have no need for him given their plethora of wings including Mikal Bridges. He goes to a contender and has a homecoming of sorts as a Marquette alum.

• Bucks acquire Jae Crowder from Nets for 5 draft picks: Sources - Alex Schiffer - The Athletic