UPDATE: Trade is now official: http://www.insidehoops.com/blog/?p=2637
The Washington Wizards, Memphis Grizzlies and New Orleans Hornets have agreed to a three-team trade that will bring two new guards to the Gilbert Arenas-less Wizards, according to NBA front-office sources.
The Wizards will receive New Orleans' Mike James and Memphis' Javaris Crittenton in the exchange, with the Hornets acquiring Washington's Antonio Daniels and the Grizzlies coming away with a future first-round pick.
Arenas has yet to play for the Wizards since signing a new $111 million contract in the offseason after undergoing surgery on his left knee. A firm timetable for Arenas' comeback has not been established, but he has yet to be cleared to participate in contact drills, making a return by Jan. 1 -- as Arenas initially hoped -- seem unlikely.