In a three-way trade, the Nets will acquire two first-round picks -- one from the Rockets and and another from the Lakers -- in sending Terrence Williams to Houston and Joe Smith to Los Angeles.  Sasha Vujacic will be traded to New Jersey in the deal.

The deal is set to be finalized on Wednesday.

The Nets are reportedly amassing picks in a final attempt to construct a trade for Carmelo Anthony and then convince the star forward to sign a contract extension with the team.

Ken Berger writes that Anthony has recently become entrenched in his desire to be traded only to the Knicks.  

"The person who provided this information could not have been more unequivocal -- and could not have been closer to Anthony's inner circle," writes Berger.  

But Nets officials have received repeated assurances from Anthony's camp that he would in fact extend his contract with the Nets.  According to another report, the Nets hope that after completing a deal with Denver, owner Mikhail Prokhorov and head coach Avery Johnson will be able to convince Anthony to extend his contract with the club.