Report: Telfair Trade a Done Deal

Oregonlive has the story. It originated from Andy Katz at ESPN, who writes:

The Boston Celtics acquired second-year Portland Trail Blazers point guard Sebastian Telfair for the No. 7 pick in Wednesday's NBA draft, as well as one or two other players, multiple sources told ESPN.com.

The trade was agreed upon Wednesday afternoon but it came after the 2 p.m. ET deadline which means the Celtics will still be on the clock, selecting for the Blazers, when the No. 7 pick comes up during the draft.

Portland will pick at No. 4 and No. 7, barring any more trades.

UPDATE (Thanks Scotty): Jeff Goodmhopan of FOXSports reports a bigger deal, with Portland taking on a fat contract:

According to sources, the Celtics have acquired point guard Sebastian Telfair and big man Theo Ratliff from the Trail Blazers in exchange for the No. 7 pick in tonight's NBA draft, center Raef LaFrentz and guard Dan Dickau.

Not only did Boston get the point guard it has been seeking, but Ainge also rid himself of LaFrentz's mega-contract and also got Ratliff who should give the Celtics a much-needed defensive presence in the middle.

The Celtics are also still discussing the possibility of acquiring Allen Iverson, according to sources close to the situation.

UPDATE: Thought: what I'm hoping for here, as a Blazer fan? LaMarcus Aldridge and Brandon Roy.