Walker dealt to Miami and Jones to Memphis in five-team blockbuster

The five-team, 13-player deal, is the largest in NBA history and came on the day following a one-month moratorium on free-agent signings and trades.

In the deal, the Grizzlies sent guards Jason Williams, Andre Emmett and guard/forward James Posey to Miami and traded newly-acquired center Greg Ostertag to Utah.

As part of the five-team trade, Miami dealt Rasual Butler to New Orleans and traded Qyntel Woods, two second round draft picks and the draft rights to Albert Miralles to Boston. The Jazz traded Curtis Borchardt to the Celtics and Kirk Snyder to the Hornets. The Hornets traded the draft rights to Roberto Duenas to Miami.

The five-team trade is subject to all players passing team physicals.

Walker joins his fourth different NBA team since the 2003-04 season, as he has spent time with Dallas, Atlanta and Boston. A prolific three-point shooter, Walker averaged 19.1 points and nine rebounds per contest with the Hawks and Celtics last year.

A three-time All-Star, Jones started all 80 games played with Miami last season, averaging 12.7 points, a career-high 5.1 rebounds and 2.7 assists. He finished last season ranked fifth among active players in three-point field goals made (1,301) and fourth among active players in three-point field goals attempted (3,435).

The 33-year-old had spent the last five seasons with the Heat after spending 5 1/2 seasons with the Lakers and 1 1/2 with the Hornets.

"Eddie Jones is an All-Star caliber player who has had a terrific NBA career," said Grizzlies president of basketball operations Jerry West. "He is a great three-point shooter who will make an immediate impact on our offense, while also serving as a solid defender in the backcourt. We look forward to Eddie finishing his NBA career in Memphis."

Lopez played in 113 career games with Utah, averaging 6.5 points, 3.8 assists in 18.9 minutes. Last season, he averaged 5.2 points, but missed 48 games due to an injury.

The Heat, who re-signed center Shaquille O’Neal to a five-year, $100 million deal and also inked forward Udonis Haslem to a five-year, $30.7 million deal on Tuesday, received three key pieces to their puzzle for a run at the NBA title.

Williams averaged 10.1 points and 5.6 assists in 71 games played last season. Posey averaged 11.6 points and 4.7 rebounds in 132 games played with Memphis. Emmett played eight games with the Grizzlies last season.

Ostertag was traded for the second time in a day. He was acquired earlier on Tuesday by the Grizzlies along with Bobby Jackson from Sacramento in exchange for guard Bonzi Wells. Last season with the Kings, Ostertag averaged 1.6 points and 3.0 rebounds.

Butler has played all three of his NBA seasons with the Miami Heat and holds career averages of 6.9 points and 2.2 rebounds in 182 games. He averaged 6.5 points and 2.3 rebounds in 65 games with the Heat last season.

"Rasual has shown a lot of promise during his first three years in the NBA and he will help us immediately at the small forward position," said Hornets general manager Allan Bristow. "He will get a chance to play more minutes here and continue to develop his overall game while continuing to provide shooting, athleticism and defense."

Snyder completed his rookie season with the Jazz in 2004-05, averaging 5.0 points and 1.8 rebounds in 68 games.

The Hornets originally acquired the rights to Duenas from Chicago in exchange for the 45th pick in the 2001 NBA Draft.

Woods, a 6-foot-8 forward, has averaged 3.1 points in his career. He played for Portland from 2002-04 and appeared in three games for the Heat last season.

Borchardt averaged 3.0 points and 3.3 rebounds per game for Utah last season.