UPDATES THROUGHOUT with further details:
Shawn Marion is headed from Toronto to Dallas in a complicated, four-team sign-and-trade that also sends Jerry Stackhouse temporarily to Memphis and delivers a sizeable trade exception to Orlando, pending league approval on Thursday, four sources confirmed to CBSSports.com.
The blockbuster trade, designed to give Dallas an athletic transition player and 3-point shooter while also clearing cap space for the Raptors to consummate the Hedo Turkoglu acquisition, took on several forms and was still evolving early Thursday -- although the essentials have been agreed upon.
Marion gets a five-year deal believed to be in the $35-$40 million range, according to one source, and is traded to Dallas. The Mavericks send Jerry Stackhouse and his $7 million contract to Memphis, which agreed to facilitate the deal because it can buy out Stackhouse for the $2 million that is guaranteed by Aug. 10 and not be on the hook for the rest. The Mavericks, a second source confirmed, would provide the funds for the Grizzlies' buyout. Toronto is expected to receive draft-pick considerations and/or cash in the deal. In some form, one of the sources said, "It should be done Thursday."
A third source said Dallas gets Kris Humphries from Toronto and sends Antoine Wright and Devean George to the Raptors.
UPDATE: In one of the truly random delights of NBA trades, Orlando receives a sizeable trade exception as the fourth team involved in the trade, according to two of the sources with direct knowledge of the deal. Thus, the Magic send Turkoglu to the Raptors in a sign-and-trade as opposed to Turkoglu signing straight up with Toronto. Those two sources said Turkoglu does not get a sixth year in his deal, which Orlando could have given him as part of the sign-and-trade.
CBSSports.com reported Monday night that Mavericks owner Mark Cuban and Marion's agent, Dan Fegan, were pushing for a trade to Dallas. Toronto's inability to take back salary due to its verbal commitment with Turkoglu for five years and $53 million didn't bode well -- unless at least one other team was recruited to facilitate the deal. That happened Wednesday, one of the sources confirmed, when Memphis and then Orlando agreed to get involved. If the Raptors hadn't found a trading partner -- they had discussions with Cleveland about Anthony Parker, who agreed to a contract parameters Wednesday with the Cavs, but not Marion -- then GM Bryan Colangelo simply would've renounced Marion's rights in order to clear space for Turkoglu.
One NBA front office source expressed doubt Wednesday whether any team would be willing to give up a prized draft pick and cash in this environment to facilitate such a deal. Perhaps that person underestimated Cuban, who has once again moved aggressively in his pursuit of a veteran player in hopes of getting the aging Mavericks closer to a championship.
Marion, 31, joins the over-30 club with Dirk Nowitzki (31), Jason Terry (31), and Jason Kidd (36), who was retained with a three-year. $25 million deal this week. Cuban also signed restricted free agent Marcin Gortat to an offer sheet that Orlando is not expected to match.