A team source said the Nets are very close to an agreement with Shareef Abdur-Rahim on a six year contract worth roughly $38 million.
To make the deal work under cap rules, the Portland Trail Blazers, who own Abdur-Rahim's rights, would have to agree to sign him to the contract and then trade him to the Nets using a $5 million trade exception that the Nets own. In return, the Nets would send a future first round pick to the Blazers.
If the Nets are unable to get the Blazers to agree to a sign-and-trade, Abdur-Rahim has agreed to sign with the Nets for their mid-level exception at five years for about $28 million, according to the team source. So, either way, it looks like the Nets will get their hands on Abdur-Rahim.