According to multiple NBA sources, the Magic would be sending Tony Battie, Rafer Alston and Courtney Lee to New Jersey.
Earlier in the week, the Magic also were talking with Houston about re-acquiring Tracy McGrady, but they opted to pursue Carter instead. Although Carter will make considerably more next season than Turkoglu -- who is looking for a five-year, $50 million contract -- he has only two guaranteed years remaining, paying him $16.3 and $17.3 million, respectively.
Carter will give the Magic the kind of late-game playmaking ability that Turkoglu has provided the last two years in Orlando. He also will leave the Magic with more roster flexibility in the future. Carter, for several years, has talked about his desire to play for the Magic. He grew up in nearby Daytona Beach and already has a home in Orlando.
Turkoglu, a key player in the Magic's run to the NBA Finals, is expected to be pursued by Detroit, Portland and Memphis in free agency, pushing his value higher than the Magic wanted to pay.
Carter, 32, is a seven-time All-Star who averaged 20.8 points and 5.1 rebounds in 80 games last season. The Magic expect the trade of Carter, the former UNC star, to lesson the backlash that is sure to follow their decision to give up on Turkoglu, who was one of their most popular players.
Turkoglu, 30, is coming off his best two NBA seasons. Although the Magic had said they were willing to pay the luxury tax for the first time to sign him, they are hoping to avoid another long-term contract like the one he will command in free agency.