On the same night as they traded Jeremy Lin to the Atlanta Hawks, the Nets acquired forwards Kenneth Faried and Darrell Arthur, and two draft picks from the Denver Nuggets, according to ESPN's Adrian Wojnarowski.
Brooklyn will receive Denver's top-12 protected first-round pick in 2019 and an unprotected second-round pick in 2020, as the Nets take on approximately $21 million in salary for the 2018-19 season.
The Nets dealt guard Isaiah Whitehead, a 23-year-old guard who averaged 6.3 points in 16 games last season, to Denver, which will reportedly waive him upon the trade being completed, according to Wojnarowski.
The 28-year-old Faried averaged career-lows of 5.9 points and 4.8 rebounds in just 32 games last season, his seventh since he was drafted 22nd overall in 2011. A native of Newark, New Jersey, Faried is two seasons removed from averaging 12.5 points and 8.7 rebounds in 67 games.
Arthur, 30, averaged 2.8 points in 19 games last season. A former No. 27 draft pick, he has averaged 6.5 points per game in 503 games since entering the league in 2008.
By trading Faried and Arthur, the Nuggets are alleviated of approximately $43 million in payroll and luxury tax next season, according to Wojnarowski.