Blockbuster Trade: Gilbert Arenas To Orlando Magic For Rashard Lewis

Yahoo Sports is reporting that the Orlando Magic are preparing to complete a pair of blockbuster trades that would land their team Gilbert Arenas, Hedo Turkoglu and Jason Richardson.

Although the deal is still under construction, Orlando is prepared to send guards Vince Carter, Mickael Pietrus, backup center Marcin Gortat, a 2011 first-round draft pick and $3 million to the Phoenix Suns in exchange for Turkoglu and Richardson.

The Magic would also send forward Rashard Lewis and his remaining $66.5 million (three years) to the Washington Wizards. The Magic would then receive Gilbert Arenas in return.

Rumors of a trade between the Magic and Wizards have been circling for a few months now, with a majority of them indicating a swap that would include Arenas and Carter.

Magic general manager Otis Smith has been close with Arenas since their days with the Golden State Warriors and the Magic have expressed their need of an effective perimeter scorer.

With this potential deal completed, the Magic roster immediately becomes a very trendy one with many familiar names. The Suns make out well with a solid seven-footer, Carter's scoring ability, and an additional first-rounder. The Wizards, although not creating any needed cap space, would gain a scoring swingman for the young backcourt of John Wall and Nick Young.

Gilbert's reign in Washington is finally over.