The Brooklyn Nets have agreed to acquire James Harden from the Houston Rockets.

The Rockets will acquire four first round picks and four pick swaps. Brooklyn will send out Caris LeVert, Jarrett Allen and Taurean Prince as part of the package. 

The Cleveland Cavaliers will acquire Allen and Prince while sending a 2022 first round pick from the Milwaukee Bucks, Rodions Kurucs and Dante Exum to the Rockets.

The Rockets will own unprotected first round picks from the Nets in 2022, 2024, 2026, Milwaukee's unprotected first round pick in 2022, as well as first round swap rights with the Nets in 2021, 2023, 2025 and 2027.

Houston will go under the luxury tax by $3.65 million and the hard cap by $9.95 million per Bobby Marks of ESPN.

The Philadelphia 76ers had been considered the favorite to acquire Harden due to the possibility of Ben Simmons being included in a trade package.