The Nets have traded PF Andrew Nicholson to the Trail Blazers for G Allen Crabbe, the team announced on Tuesday.
ESPN's Adrian Wojnarowski reported that Portland will waive and stretch Nicholson's contract, paying $2.8 million over the next seven years.
The Nets were interested in signing Crabbe last season. However, the Blazers matched their four-year, $75 million offer sheet. Because of the offer sheet, both sides had to wait a year before executing the deal.
Crabbe waived his 15 percent trade kicker in the deal.
Crabbe has spent his first four seasons in the NBA with the Blazers. in 79 games last season, he averaged 10.7 points, 2.9 rebounds, 1.2 assists, and 28.5 minutes per game.
The 25-year-old also had his best year shooting so far in his career posting a 46.8 percentage from the field, and 44.4 percent from beyond the arc.