The Brooklyn Nets and Boston Celtics are engaged in ongoing discussions on a trade involving Kevin Garnett and Paul Pierce. The deal has reached the ownership level and Garnett will waive his no-trade clause for the deal to go through.

The Nets would trade Kris Humphries, Gerald Wallace, Kris Joseph, Keith Bogans on a sign-and-trade and three first round picks to the Celtics for Garnett, Pierce and Jason Terry. Brooklyn would also send first round picks in 2014, 2016 and 2018. Howard Beck of the New York Times reports that the 2016 and 2018 picks would be unprotected.

The Celtics can also elect to swap pick with the Nets in 2017.

The Nets will fully guarantee the $12 million owed to Garnett for the 14-15 season.

The Celtics held discussions on a trade of Garnett to the Clippers as part of the Doc Rivers' deal. The NBA has blocked the Clippers and Celtics from trading any players this season.

The Celtics are motivated to begin rebuilding their roster.