Troy Murphy Coming To New Jersey? Courtney Lee On The Way Out?

Update #2: Ben Couch reports it is official, and offers his analysis.

Update:  According To Marc J. Spears, it is a done deal:

Hou,NJ, NO, Indy trade done and trade call taking place now, source tells Y!. Hou gets C Lee, NO gets Ariza, Indy Collison-Posey, NJ Murphy

As soon as it seems the Nets are standing pat and going to let Derrick Favors be the starter to start the season, they go ahead and make a move…or least they are trying to.  Chad Ford of ESPN just tweeted:

Breaking: Hornets, Rockets, Pacers & Nets working on 4 team deal. Ariza to NO. C. Lee to HOU. Collison & Posey to IND. Murphy to NJ.

More if the deal goes through, but it seems like everyone was right in assuming that a wing was on the move.  I thought that it would take Terrence Williams to get a starting quality PF, but apparently, Courtney Lee is the guy on the way out.  I’ll take a real deep look at the deal if it ends up being official, but as it stands right now the Nets have $14 to $13 million in cap space (off the top of my head) and Courtney Lee’s deal was at $1.3.  Troy Murphy is in the final year of a $12 million dollar contract, so while the Nets eat up most of their cap space this year, they will have right around $15 million to spend next year (again these are not exact, off the top of my head calculations).  Also, looks like Sean May is out of a roster spot.