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We have a trade to announce

(No, it's not draft night but I always wanted to say that) The New Jersey Nets, Los Angeles Lakers and Houston Rockets have agreed in principle on a three-way trade that will send Terrence Williams to Houston, league sources told Yahoo! Sports. Lakers guard Sasha Vujacic and a 2012 first-round pick from Houston will go to New Jersey. Nets forward Joe Smith will join the Lakers, who also will send their 2011 first-round pick to New Jersey. In an effort to create luxury-tax savings by trading Vujacic’s $5.5 million salary for Smith’s $1.35 million, the Lakers were willing to include their first-round pick.

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