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Reports: Nets Dump Yi Jianlian On Wizards For Cap Space

In order to create more salary-cap space for the free-agent spending spree that's about to start, the Nets have traded forward Yi Jianlian to the Wizards for swingman Quinton Ross, according to multiple reports. NetsDaily has more on the salary-cap implications of the deal here:

The move will give them a bit more than $30 million in space and put them back in second place among teams seeking top free agents behind the Knicks. The Nets would need $33 million to sign two max free agents.

In return, the two report the Nets will receive journeyman small forward Quinton Ross. Initially, it was reported the Nets might be wind up with one of the Wizards' draft picks. [Dave] D'Alessandro reports that the deal will be announced this afternoon. Ross will be paid $1.14 million, $2.91 million less than Yi's $4.05 million.

The Nets banked on Yi's potential two years ago when they acquired him from the Milwaukee Bucks for Richard Jefferson. But the opportunity to free more cap space was more enticing than investing more time and effort in his development.

John Schuhmann of, via Twitter, adds this cap note to the mix:

Correction (Bulls #): According to my math, the Nets ($29.99M) now have more cap space than the Bulls ($29.17)

Financially, the Nets are more flexible now than they were before they did the deal, and they did not have to give up All-Star point guard Devin Harris or promising second-year center Brook Lopez in the process.

The Nets also sent $3 million in cash--the maximum amount of money that can change hands in any NBA transaction--to the Wizards to entice them to take Yi.