Reports: Nets, Magic end Howard trade talk

July 11, 2012 at 7:02 PM
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NEW YORK, July 11 (UPI) -- The Orlando Magic have suspended trade talks with the Brooklyn Nets for all-star center Dwight Howard, multiple reports indicated Wednesday.

Unnamed sources told The New York Times and ESPN Orlando broke off the negotiations, dealing a blow to the Nets' hopes of adding the NBA's top defensive player to the team as it prepares to move from New Jersey to its new home in Brooklyn.

The Nets were unable to line up enough trade bait to satisfy the Magic, despite attempts to involve multiple teams in a deal, the Times reported.

Howard had demanded a trade to the Nets, where he would have joined forces with Deron Williams, Joe Johnson and others in a powerful potential line-up.

But Orlando rejected an offer that would have sent four future first-round picks, center Brook Lopez and power forward Kris Humphries to the Magic in exchange for Howard, ESPN said.

Instead, the Nets are now reportedly working on signing Lopez and Humphries.

"We've moved on," a Nets source told ESPN. "It just got to a point where we couldn't keep going back and forth with Orlando. They had about 14 days to do something and didn't."

Brooklyn, meanwhile, officially announced its deal for six-time all-star guard Johnson, who it obtained from the Atlanta Hawks in exchange for forward DeShawn Stevenson along with the expiring contracts of guards Jordan Farmar and Anthony Morrow and centers Johan Petro and Jordan Williams.

The Nets also made official the re-signing of Williams, their star point guard, to a reported five-year, $98 million deal and the signing of forward Gerald Wallace to a reported four-year, $40 million contract.

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