The Houston Rockets, the New Orleans Hornets, the Indiana Pacers and the New Jersey Nets are working on a four-team deal that would involve five players. The agreement would send Trevor Ariza from the Rockets to the Hornets, Darren Collison and James Posey from the Hornets to the Pacers, Troy Murphy from the Pacers to the Nets, and Courtney Lee from the Nets to the Rockets.
UPDATE: The deal is done, according to Yahoo! Sports
SOURCES: ESPN, Yahoo! Sports