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Calvin Watkins ESPN Staff Writer 

Yao Ming was named president of the Chinese Basketball Association (CBA) on Thursday. Yao became the first person from the private sector to take the position, which normally goes to government officials, in the history of the CBA, which was formed in 1956. "I'll try my best to contribute in a new way in order to help the development of Chinese basketball." Yao said during his introductory speech according to Tencent. "We, who take Chinese basketball as our careers and dreams, shall work and stick together." Also the Xinhua News agency in China reports Yao may now have to give up his ownership with the Shanghai Sharks.

Russillo @ryenarussillo

Not sure I can go to bed before I know more about the possibilities of Trey Burke going for a 2nd rounder.

Marc Stein ESPN Senior Writer 

Does Magic Johnson have another trade in store in his debut week? ESPN sources say his Lakers are seeking a second-round pick for Nick Young

Ohm Youngmisuk ESPN Staff Writer 

Sixers' and Hawks' trade of Ersan Ilyasova to Atlanta for Tiago Splitter, a second-round pick, and option to swap a second-round pick is officially announced. Ilysova helps the Hawks continue to try to replace Kyle Korver's ability to stretch the floor as fifth-place Atlanta tries to keep pace with the Raptors and Wizards -- the two teams right above it -- while also fending off Indiana, Chicago and Detroit.

Russillo @ryenarussillo

Justin Jackson looked like one of those guys that should leave before NBA figured out he couldn't play. His development has been great.

Ohm Youngmisuk ESPN Staff Writer 

Nets' and Wizards' trade of Bojan Bogdanovic and Chris McCullough for Andrew Nicholson, guard Marcus Thornton and 2017 protected first round draft pick officially goes through. Wizards add much-needed bench scoring and unload Nicholson's salary. Nets gain a first-round pick and veteran stretch scoring forward in Nicholson. "Bojan is a very good shooter and a talented overall scorer whose versatility gives us an added dimension as we gear up for the stretch run," said Washington president Ernie Grunfeld. "He is a proven starter that will provide us an added boost off the bench and allow us to be creative with our lineups."