The New Jersey Nets are on the verge of a three-team trade that will bring in the kind of assets they need to expedite their rebuilding process and, perhaps, make a second attempt to acquire Carmelo Anthony from the Denver Nuggets.

Second-year guard Terrence Williams, who had fallen out of favor with new coach Avery Johnson, is expected to be dealt to the Houston Rockets and veteran Joe Smith will go to the Los Angeles Lakers in a deal that will bring in a protected 2012 first-round pick from the Rockets, a 2011 first-round pick from the Lakers and guard Sasha Vujacic. According to a report by the Bergen Record, the deal has been agreed upon but can’t be finalized until today because that is when the trade moratorium for summer free agents is lifted.

Though Nets general manager Billy King declined to comment, Williams, a former lottery pick who spent time in the D-League two weeks ago, already confirmed the deal via his Twitter account when he tweeted, "Welcome welcome, to all my jersey fans an people. it’s been real I love y’all an thanks, to HOUSTON what uppppp. "go Rockets" lol."

The deal removes the unwanted Williams and gives the Nets five first-round picks in the next two drafts. They have their own picks, plus a 2011 pick from Golden State that came when they traded another one of their former first-round selections, Marcus Williams, to the Warriors. That pick is lottery protected.

There was immediate speculation that the move would then trigger an aggressive attempt to acquire Anthony, who is expected to be dealt before the Feb. 24 trade deadline. The Nuggets will be looking for assets such as draft picks and the Nets (6-19) have plenty to offer, plus they are also willing to yield this year’s pick, Derrick Favors, who was the No. 3 overall selection.