Two people with knowledge of the situation confirmed that Boston Celtics forward Kevin Garnett has agreed to waive the no-trade clause in his contract in order to join the Nets with teammate Paul Pierce as part of a blockbuster deal that has been agreed on in principle.
The deal is also expected to send Celtics guard Jason Terry to Brooklyn, with the Celtics netting three first-round draft picks, Keith Bogans (in a sign and trade), Kris Humphries (expiring contract after next season), Gerald Wallace (three years, nearly $30 million remaining), and Reggie Evans (two years, $3.3 million). In order for Garnett to agree to the deal, the Nets agreed to guarantee his entire salary for the 2014-15 season, which was $12 million in all but only protected for $6 million if he was waived. The people spoke to USA TODAY Sports on the condition of anonymity because of the private nature of the talks.
Source: Sam Amick, USA TODAY Sports Kevin Garnett And Paul Pierce To The Nets by Sports Talk Florida Rumors