Sources: Nets in Gerald Wallace talks

New Jersey is engaged in serious discussions with the Portland Trail Blazers on a deal to bring Gerald Wallace to the Nets, according to sources with knowledge of the talks.

The deal as currently constituted, sources say, would send the expiring contract of Nets forward Mehmet Okur and either Shawne Williams or Johan Petro -- along with a protected future first-round pick -- to the Blazers for Wallace.

Wallace is a player long admired by Orlando and was part of the three-team trade construction lined up by the Nets in December that nearly brought Dwight Howard to the Nets before the season even started. In that three-team scenario, Orlando would have received Wallace, Nets center Brook Lopez and at least one future first-round pick, while also shedding the contracts of Hedo Turkoglu and Chris Duhon.

To push this latest deal through involving Wallace, New Jersey and Portland must submit a trade agreement to the league office before Thursday's 3 p.m. ET trade deadline.

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