HoopsHype.com Rumors

The Jazz's Deron Williams has been traded to the New Jersey Nets, a source has informed the Salt Lake Tribune. Utah is expected to receive Devin Harris, Derrick Favors, two future first-round picks and cash. Salt Lake Tribune

New Jersey Nets, Utah Jazz, Trade, Derrick Favors, Devin Harris, Deron Williams 

Two people with knowledge of the negotiations have confirmed the Nets have agreed to a deal to acquire All-Star point guard Deron Williams from the Utah Jazz. The Nets will send Devin Harris and rookie power forward Derrick Favors to the Jazz, along with two first round picks, according to The Record, which first reported the deal. Yahoo! Sports reported the Nets would also send Utah $3 million. Newark Star-Ledger

New Jersey Nets, Utah Jazz, Derrick Favors, Devin Harris, Deron Williams 

Chris Mannix: Jazz may not be done dealing, sources say. Al Jefferson, Paul Millsap and Derrick Favors all under contract until at least 2013. Twitter

Utah Jazz, Trade, Al Jefferson, Derrick Favors, Paul Millsap 

In a swift and astonishing comeback from their failed pursuit of Carmelo Anthony, New Jersey also will get Dan Gadzuric and Brandan Wright from Golden State, which will buy out Murphy, sources said. Murphy is considering signing with Boston, Miami or Orlando once his buyout is complete. CBSSports.com

Golden State Warriors, New Jersey Nets, Dan Gadzuric, Derrick Favors, Brandan Wright 

Al Iannazzone: Sources told The Record it's a 3-team. deal and the Nets would send D. Harris, DFavors and picks to Utah for Williams. Twitter

Utah Jazz, Trade, Derrick Favors, Devin Harris, Deron Williams 

The New Jersey Nets are trying to rebound from the disappointment of their failed pursuit of Carmelo Anthony by swinging a blockbuster trade for the Utah Jazz's Deron Williams before Thursday's 3 p.m. ET deadline, sources said on Wednesday. The Nets and Jazz, sources said, are closing in on a multi-team trade that would send Williams to New Jersey, with the Nets' Derrick Favors and Devin Harris going to Utah. ESPN.com

Utah Jazz, Trade, Derrick Favors, Devin Harris, Deron Williams 

While the trade hinges on 'Melo agreeing to a three-year, $65 million sign-and-extend deal with New Jersey, Nets' rookie Derrick Favors had some things to say from All-Star Weekend in Los Angeles about the potential trade after word broke Thursday night that he may be on his way to Denver. "Whatever happens, happens," Favors said. "I really want to be in New Jersey, play for that team. But, like I said, I can't control it." HoopsWorld

Denver Nuggets, New Jersey Nets, Trade, Carmelo Anthony, Derrick Favors 

Favors told HOOPSWORLD earlier today he had also heard that an agreement to bring Carmelo to New Jersey was a done deal, and that he was apart of it. It's reported that the Nuggets valued Favors' youth and upside, which made the Nets offer the most compelling on the market and that thought wasn't lost on the rookie. "It's pretty cool that they like me because of that," Favors said. HoopsWorld

Denver Nuggets, New Jersey Nets, Trade, Carmelo Anthony, Derrick Favors 

While his name has been in constant trade rumors since before the start of training camp, Favors said he has had no reassurances or conversations with the front office about his possible departure. "It was overwhelming at first but [now], I'm pretty used to it," Favors said. HoopsWorld

Denver Nuggets, New Jersey Nets, Trade, Carmelo Anthony, Derrick Favors 

The Nets and Nuggets are discussing a deal that would send Anthony, Chauncey Billups, Melvin Ely, Renaldo Balkman and Shelden Williams to the Nets for Derrick Favors, Devin Harris, Troy Murphy, Ben Uzoh and four first-round draft picks, a league source with knowledge of the talks told Yahoo! Sports on Thursday night. Now, the pressure could be back on the New York Knicks to sweeten their offer and get Anthony before the Feb. 24 trade deadline. Knicks president Donnie Walsh has seemed willing to let Anthony go into free agency, when New York can try to sign him in the summer. The Knicks and Nuggets have negotiated steadily in recent weeks, but Denver has been frustrated with New York’s reluctance to part with key young players in a deal. Yahoo! Sports

Denver Nuggets, New Jersey Nets, Trade, Derrick Favors, Troy Murphy, Devin Harris, Chauncey Billups, Shelden Williams, Melvin Ely, Renaldo Balkman, Ben Uzoh 

Several league sources now wonder if the ever-patient Nuggets are even going to trade Anthony by Feb. 24 if the Nets don't get back into it. Curiously, they love Nets forward Derrick Favors, who Saturday night looked 19 and at least three years away from being a very good player. New York Post

Denver Nuggets, New Jersey Nets, Trade, Carmelo Anthony, Derrick Favors 

Running more plays for rookie Derrick Favors and extending his minutes later this season are steps in what Nets coach Avery Johnson thinks is going to be a long growth process for the 19-year-old power forward. “Even next year, Favors is not going to be a stud,” Johnson said. “He’s not going to be able to play 38 minutes. Who knows when? You see him every night. He’s not ready.” “When our season ends and we open up again, I don’t know if you’re going to see that much of a difference between May and Oct. 1 where he’s going to be [Kevin] Garnett or [Amar’e] Stoudemire or [Tim] Duncan. He’s still going to have some growth.” Bergen Record

New Jersey Nets, Avery Johnson, Derrick Favors 

The Nuggets always wanted to do the deal for Derrick Favors, the draft picks and payroll relief the Nets offered, but they could never sell ’Melo on New Jersey. He wants the New York Knicks, who think maybe, just maybe, they’d be wiser to wait for the Orlando Magic’s Dwight Howard to hit free agency in 2012. Yahoo! Sports

Denver Nuggets, New Jersey Nets, New York Knicks, Orlando Magic, Trade, Carmelo Anthony, Derrick Favors, Dwight Howard 

Derrick Favors, the 19-year-old rookie who was rumored to be the centerpiece in the multiple-player deal, was shocked upon hearing the news in the locker room before the game. "I don't have to worry about it no more," Favors said. "It's over with. This is my first time hearing it. I'm excited." ESPN.com

Denver Nuggets, New Jersey Nets, Trade, Carmelo Anthony, Derrick Favors, Mikhail Prokhorov 

Just in case Anthony is dealt to New Jersey in a blockbuster trade being discussed, Karl checked out the player that he would be getting in return for the All-Star forward, watching Favors play against Phoenix on Wednesday night. It never hurts to look, especially with the Anthony trade speculation intensely blowing. Boulder DailyCamera.com

Denver Nuggets, Detroit Pistons, New Jersey Nets, Trade, Carmelo Anthony, Derrick Favors 

First Favors, who had 12 points and two rebounds in the Nets' 118-109 overtime loss at Phoenix. "I'll be honest, (Wednesday) night was the first night I even looked at Favors,'' Karl said after Thursday morning's shootaround at the Pepsi Center in preparation for the evening game against Miami. "I had some time last night and I watched Favors play against Phoenix. This (trade speculation) has been going on for five months and I haven't even watched Favors. We played them here (Nov. 20). I watched him then.'' FanHouse.com

Denver Nuggets, New Jersey Nets, Trade, George Karl, Derrick Favors 

For now, Karl is keeping his eyes on Favors, just in case he soon joins the Nuggets. "I didn't watch (Wednesday's game) studiously,'' said Karl, whose Nuggets did announce Thursday that backup center Chris Andersen will miss about a week to rest nagging knee and back injuries. "I just watched it. He's fine. But I don't have enough (information to speak in depth about Favors). ... I did get a website that I can get every minute he's played. So that would be probably the next step.'' FanHouse.com

Denver Nuggets, New Jersey Nets, Trade, George Karl, Derrick Favors 

But Karl still believes there's an equal chance the trade deadline will pass with the Nuggets maintaining a similar team to what they have now. "I think the chances of this team being somewhat what it is is probably just as much of a possibility of not being,'' Karl said. "That's my reality. That's my thought process of this drama. I don't like the drama and I'm not an expert on the drama. "For me, coaches are paranoid. Coaches get tunnel vision over 'what ifs.' And it's just best for me to stay strong with somehow, someway this could be our team, and I still it think it could be a very good team.'' FanHouse.com

Denver Nuggets, New Jersey Nets, Trade, George Karl, Derrick Favors 

Favors, though, is perhaps the most carefree Net these days, and really isn’t worrying about whether he will be traded. “I’m used to it now; it’s been going on since training camp,” he said. “I don’t worry about it anymore.” Newark Star-Ledger

New Jersey Nets, Trade, Derrick Favors 

Where all the Nets wind up is still not clear, The Nets would sent Derrick Favors, at least two first-round picks, and Devin Harris to the Nuggets. Troy Murphy and Johan Petro would head to the Pistons. Other players, such as Quinton Ross, Stephen Graham — perhaps Anthony Morrow — also would be headed out. New York Post

Denver Nuggets, Detroit Pistons, New Jersey Nets, Trade, Derrick Favors, Troy Murphy, Devin Harris, Anthony Morrow, Quinton Ross, Stephen Graham