Sources: Nets trade for Deron Williams

Trying to rebound from the disappointment of their failed pursuit of Carmelo Anthony, the New Jersey Nets have agreed to a blockbuster trade with the Utah Jazz for Deron Williams, sources said on Wednesday.

The Nets will send Derrick Favors and Devin Harris to Utah for the All-Star point guard. The Jazz will also get two first-round draft picks from the Nets, according to multiple media reports.

The deal, scheduled for completion later Wednesday after a trade call with the league office, also involves the Golden State Warriors. Sources told ESPN The Magazine's Chris Broussard that the Nets will send the expiring contract of Troy Murphy to the Warriors for center Dan Gadzuric and power forward Brandan Wright.