An NBA source confirmed that Kevin Garnett has waived his no-trade clause, clearing the way for a blockbuster trade that would send Garnett, Paul Pierce and Jason Terry to the Brooklyn Nets for Kris Humphries, Gerald Wallace, Keith Bogans, and three first-round picks.
This deal officially marks the end of the Big Three Era and the beginning of the Celtics rebuilding plan as the organization parts ways with two of the most popular players in team history. Pierce played 15 years for the Celtics after being drafted in 1998, and finishes as the team's second all-time leading scorer to John Havlicek.
Garnett came to the Celtics in a 2007 trade with Minnesota and helped the Celtics to the NBA title in 2008, their first in 22 years. The trio of Ray Allen, Kevin Garnett and Paul Pierce won one NBA title, reached the Finals again in 2010 and lost in Game 7 of the Eastern Conference Finals last season.
Allen bolted for the Miami Heat last summer after the Celtics were hesitant in re-signing him, then coach Doc Rivers left Monday to coach the Los Angeles Clippers. Pierce and Garnett were the final two remaining pieces and team president of basketball operations Danny Ainge has said the Celtics would not be a championship-caliber team if they kept the roster intact.
This trade gives the Celtics an expiring contract next summer in Humphries, and long-term possibilities with Wallace and three extra first-round picks. The Celtics now have four first-round picks in the next two seasons.
Yahoo! Sports first reported the talks.
Pierce has a $5 million buyout of his contract that would have to be executed by Sunday, but the Celtics are expected to pick up the $15.3 million option and deal that contract to Brooklyn.
The Celtics were attempting to package Garnett in a deal with Doc Rivers to the Los Angeles Clippers for DeAndre Jordan and draft picks, but the league blocked any player-coach transactions and disallowed player deals between the two clubs this season.