According to NBA front-office sources, the Nuggets and Bucks have agreed to a trade that will be announced later Thursday.

Denver has agreed to send Earl Boykins and forward Julius Hodge to the Bucks for guard Steve Blake.

Milwaukee, sources said, also managed to extract an estimated $700,000 from the Nuggets to pay the remainder of Hodge's $1.2 million salary.

The Nuggets had to make the trade immediately because Milwaukee's $4.3 million injury exception created by Bobby Simmons' season-ending ankle and foot surgeries was set to expire on Friday.