The Portland Trail Blazers have traded Allen Crabbe to the Brooklyn Nets for Andrew Nicholson.

The Blazers will waive and stretch Nicholson. According to Bobby Marks, the Blazers will have their luxury tax bill for 17-18 drop from $48.3 million to $4.4 million due to the trade.

Brooklyn signed Crabbe to a four-year, $75 million offer sheet during the 2016 offseason that the Blazers matched. Crabbe has a player option in the 2019 offseason.

Crabbe averaged 10.7 points, 2.9 rebounds and 1.2 assists with a PER of 11.6 in 28.5 minutes per game last season. Crabbe hit 44 percent of his three-point attempts. 

While the Portland Trail Blazers have interest in trading for Carmelo Anthony, he won't consider waiving his no-trade clause to join them.

Anthony has been recruited by C.J. McCollum and Damian Lillard.

Anthony remains committed to ending up with the Houston Rockets or Cleveland Cavaliers while recently prioritizing the Rockets.

Steve Mills said earlier this week Anthony could remain with the team this season. The Knicks are not interested in engaging in buyout talks.

Anthony continues to expect a trade to the Rockets.

The Portland Trail Blazers have interest in trading for Carmelo Anthony.

The Blazers were previously believed to be a team that could help facilitate a trade of Anthony by the New York Knicks to the Houston Rockets.

The Blazers believe Anthony would give the team as much depth to compete in the second tier of the Western Conference behind the Golden State Warriors.

Portland has little desire to help Anthony be traded to the Rockets.

Anthony hasn't expressed a willingness to expand his list of teams he'd accept a trade to beyond the Houston Rockets and Cleveland Cavaliers.

The Portland Trail Blazers attempted to trade for Paul George entering the draft, offering the Indiana Pacers the 15th, 20th and 26th picks along with any player on their roster excluding Damian Lillard, C.J. McCollum and Jusuf Nurkic.

“All three of their first-round picks along with Pritchard's choice of any player off the current roster other than their Big-3," said the source.

George, who can become a free agent in 2018, was traded to the Oklahoma City Thunder.

The Blazers have historically not been a free agent destination for players of George's caliber, but he would have been teaming up with one of the NBA's best backcourts.