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A four-team deal sending Shawn Marion to the Dallas Mavericks has been approved by the league office and was to be formally announced by the teams on Thursday.
Marion is set to receive a five-year contract from the Mavericks worth an estimated $39 million, according to sources.
Under the sign-and-trade deal, the Orlando Magic traded Hedo Turkoglu to the Toronto Raptors. The Raptors sent Marion, Kris Humphries, Nathan Jawai and cash considerations to Dallas, while also sending a future second round draft pick to the Memphis Grizzlies.
The Mavericks in turn shipped Jerry Stackhouse and cash considerations to the Grizzlies and Devean George and Antoine Wright to Toronto, while the Grizzlies dealt Greg Buckner to Dallas.
The inclusion of Jawai to the Mavericks was a new wrinkle in the deal. In an earlier version, the Raptors were to send Quincy Douby to the Grizzlies instead.
According to sources, the cash that accompanies Stackhouse from Dallas will help the Grizzlies buy out his contract. Only $2 million of Stackhouse's $7.25 million salary next season is guaranteed, as long as he is waived by Aug. 10.
Marion earned $17.8 million last season and was traded for the second straight February when Miami sent him to Toronto in a swap for Jermaine O'Neal. He went from Phoenix to Miami one year earlier in the Shaquille O'Neal trade.
A deal with Dallas appeared to Marion's best and last hope for securing a new contract starting above the $5.9 million midlevel exception.
Turkoglu, a 6-foot-10 forward, was one of the most coveted free agents available, coming off a season in which he helped the Magic reach the NBA finals.
The nine-year NBA veteran appeared poised to sign with the Portland Trail Blazers last Friday before Raptors general manager Bryan Colangelo swooped in and nabbed the Turkish forward.
Turkoglu's agent Lon Babby said the player and his wife Banu were intrigued by Toronto's ethnic diversity, including a large Turkish community.
Turkoglu opted out of his contract in Orlando when the team acquired Vince Carter from New Jersey. Turkoglu was due $7.3 million next season, the final year of a $36-million, six-year deal with the Magic.
He averaged 16.8 points and 5.3 rebounds last season, and has averaged 12.3 points and 4.2 rebounds over his career, which included stints with Sacramento and San Antonio before he signed with Orlando as a free agent in 2004. He is a a 38.5 percent shooter from 3-point range.
Marion is set to receive a five-year contract from the Mavericks worth an estimated $39 million, according to sources.
Under the sign-and-trade deal, the Orlando Magic traded Hedo Turkoglu to the Toronto Raptors. The Raptors sent Marion, Kris Humphries, Nathan Jawai and cash considerations to Dallas, while also sending a future second round draft pick to the Memphis Grizzlies.
The Mavericks in turn shipped Jerry Stackhouse and cash considerations to the Grizzlies and Devean George and Antoine Wright to Toronto, while the Grizzlies dealt Greg Buckner to Dallas.
The inclusion of Jawai to the Mavericks was a new wrinkle in the deal. In an earlier version, the Raptors were to send Quincy Douby to the Grizzlies instead.
According to sources, the cash that accompanies Stackhouse from Dallas will help the Grizzlies buy out his contract. Only $2 million of Stackhouse's $7.25 million salary next season is guaranteed, as long as he is waived by Aug. 10.
Marion earned $17.8 million last season and was traded for the second straight February when Miami sent him to Toronto in a swap for Jermaine O'Neal. He went from Phoenix to Miami one year earlier in the Shaquille O'Neal trade.
A deal with Dallas appeared to Marion's best and last hope for securing a new contract starting above the $5.9 million midlevel exception.
Turkoglu, a 6-foot-10 forward, was one of the most coveted free agents available, coming off a season in which he helped the Magic reach the NBA finals.
The nine-year NBA veteran appeared poised to sign with the Portland Trail Blazers last Friday before Raptors general manager Bryan Colangelo swooped in and nabbed the Turkish forward.
Turkoglu's agent Lon Babby said the player and his wife Banu were intrigued by Toronto's ethnic diversity, including a large Turkish community.
Turkoglu opted out of his contract in Orlando when the team acquired Vince Carter from New Jersey. Turkoglu was due $7.3 million next season, the final year of a $36-million, six-year deal with the Magic.
He averaged 16.8 points and 5.3 rebounds last season, and has averaged 12.3 points and 4.2 rebounds over his career, which included stints with Sacramento and San Antonio before he signed with Orlando as a free agent in 2004. He is a a 38.5 percent shooter from 3-point range.
