Nets, Lakers, Rockets Trade Scorecard

In one fell swoop Wednesday, the New Jersey Nets strengthened their bid for Carmelo Anthony; the Los Angeles Lakers shed salary by dumping Sasha Vujacic and fortified their front court by acquiring Joe Smith; and the Houston Rockets rolled the dice on former lottery pick Terrence Williams.

The three moves were all part of a complicated three-team trade leaked to the media on Tuesday and officially approved by the NBA one day later -- the first day Smith, a free agent who signed with the Nets over the summer, was eligible to be traded.

There were a lot of pieces to this deal, so let's break it down to what each team gave up and what each team receives.

First, the Nets gave up:
• Terrence Williams to the Rockets
• Joe Smith to the Lakers

And the Nets acquired:
• Rockets' 2012 lottery-protected first-round pick
• Lakers' 2011 first-round pick (protected from No. 1 to No. 18)
• Sasha Vujacic from Lakers

Why? This trade gives the Nets five first-round picks in the next two drafts -- or in other words, more ammunition to use in their quest to acquire Carmelo Anthony. The Nets and Nuggets were reportedly close to a deal this summer, and another first-round pick or two should make the Nets' offer that much more appealing. Vujacic, who said he was "surprised" by the deal despite falling out of favor in Los Angeles, may see his playing time increase with the Nets, but he's an expiring contract and shouldn't be long for the Garden State.

The Lakers gave up:
• Sasha Vujacic to the Nets
• 2011 first-round pick to the Nets

The Lakers acquired:
• Joe Smith from the Nets
• Golden State's second-round pick in 2011 (via the Nets)
• Chicago's second-round pick in 2012 (via the Nets)
• Houston's draft rights to Sergei Lishouk
• $5.48 million trade exception

Why? Joe Smith, 35, may be useful Andrew Bynum insurance, but this is basically a salary dump. Vujacic was making $5.4 million this to sit at the end of the bench. Smith, on the other hand, is earning the veteran's minimum of $1.3 million, of which nearly $500,000 is being subsidized by the league. By dumping Vujacic (at the cost of a first-round pick), the Lakers not only save the difference between the two salaries but also the dollar-for-dollar luxury tax at the end of the season.

In other words, the Lakers essentially sold a late 2011 first-round pick for roughly $8 million, receiving a couple of second-rounders, a trade exception that expires in 12 months and a useful veteran in Smith.

(Who's Sergei Lishouk? He's a 28-year-old player from Ukraine originally drafted by the Grizzlies in 2004 whose rights were sent to Houston in 2008. He's too obscure to even be the answer to a trivia question; his rights were included as filler simply to make the trade work under the NBA's salary restrictions.)

The Rockets gave up:
• Houston's draft rights to Sergei Lishouk
• Lottery-protected 2012 first-round pick to the Nets

The Rockets acquired:
• Terrence Williams from the Nets

Why? Williams, the No. 11 pick in the 2009 draft, is extremely intriguing given his versatility. He butted heads with New Jersey's brass after a series of minor offenses such as being late, but there's no disputing his upside -- after being sent to the NBA D-League as punishment, he averaged 28.0 points a game with a pair of triple-doubles in three games.

Much like how the Rockets swooped in to acquire Jordan Hill from the Knicks last year, the Rockets are capitalizing on another team clearing the decks -- and giving up on a young prospect too soon -- in hopes of acquiring a veteran superstar. Maybe Williams works out for Houston, maybe he doesn't, but the Rockets didn't risk much to find out.

It's worth noting the Rockets also pulled the trigger on another trade Wednesday to clear a roster spot for Williams, sending Jermaine Taylor and cash considerations to the Sacramento Kings for a conditional second-round pick in 2011. FanHouse's Sam Amick first reported Tuesday that the cash considerations will actually exceed the remainder of Taylor's contract.