Report: Nets in talks for Garnett, Pierce

The Brooklyn Nets and Boston Celtics are in serious discussions about a proposed blockbuster trade that would send Kevin Garnett and Paul Pierce to New York City, according to a Yahoo!Sports report on the day of the NBA Draft.

The report also states that veteran guard Jason Terry would be headed to Brooklyn as part of the package, with the rebuilding Celtics to receive first- round picks in 2014, 2016 and 2018 from the Nets in addition to forwards Gerald Wallace, Kris Humphries, Reggie Evans and Tornike Shengelia. Sources also told Yahoo!Sports that Brooklyn would also send over swingman Keith Bogans to Boston in a sign-and-trade scenario, as well as another player in the complex deal.

The talks have reportedly advanced enough to be awaiting approval from the ownership of both teams. Garnett would also have to waive his no-trade clause for the trade to take effect.

If the mega-deal is indeed agreed to, it still won't become official until July 10, when the NBA's moratorium on player signings is lifted.

Additionally, the Celtics still have a decision to make regarding Pierce's contract for the upcoming season. The team holds a $15.3 million option on the 10-time All-Star forward's 2013-14 contract and has until June 30 to choose whether or not to pick it up.

The Nets, coming off a 49-win season and the franchise's first playoff appearance since 2007, are eager to make a further splash after recently hiring the just-retired Jason Kidd as their new head coach. Conversely, the Celtics are entering a transition phase with both Garnett and Pierce nearing the end of their careers and the team allowing head coach Doc Rivers to leave to take the same position with the Los Angeles Clippers in exchange for a future first-round pick.