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Let the Trading Begin (Trade Deadline Open Thread)

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And you thought this deadline would pass quietly.

Derick E. Hingle-USA TODAY Sports

After a bunch of smoke we finally appear to have some fire in the NBA trade market. The Portland Trailblazers and Denver Nuggets opened up the festivities with a significant trade. We will continue to update this post in the coming hours (just a little over three to go until the deadline) until the dust settles.

Blazers - Nuggets Trade

Portland is pushing their chips to the center of the table. Denver has gone full asset collection mode, having gathered three two first round picks in the past month and a half. A look at their haul.

Memphis Grizzlies' 1st Round Pick: 1-5 and 15-30 Protected in 2015 and 2016. 1-5 Protected in 2017 and 2018. Unprotected in 2019.

Portland's 1st Round Pick: 1-14 Protected in 2015 and 2016. Almost certainly going to be conveyed this season in the 20's.

$7.5 Million Traded Player Exception: This will not expire for a calender year so it could have value in returning salary all the way until next year's deadline. Of course, with the amount of salary the Nuggets have slashed, a TPE may be less valuable.

$11.25 Million Traded Player Exception: See above on TPE's. Below on how they acquired it.

New York's 1st Round Pick: The Carmelo Anthony deal keeps on giving. The Nuggets have swap rights with the Knicks in 2016.

UPDATE:

Nuggets - Sixers Trade

Oklahoma City Thunder's 1st Round Pick: Top-18 Protected for 2015. Top-15 for 2016 and 2017. If not conveyed, turns into two second round picks (2018 and 2019).

It appears cutting salary now is high on the agenda in Denver. Between shipping out Mozgov, Afflalo, and McGee they have slashed over $24 Million in salary since January and have gained two first round picks (Memphis and Portland) in the process. They have yet to take on a non-expiring contract. Is this a "clever" rebuild in the vein of Sam Hinkie and Philadelphia? Who knows.

Of course, for Philadelphia winning this season, or even next season, probably is not in the plan. OKC, should they get on course, is likely to convey that pick this summer if they can finish ahead of four Eastern Conference "playoff" teams.

Kings - Wizards Trade

Wojnarowski's laptop is a flaming ball of hot fire right now. New coach George Karl has a history with Andre Miller, who had fallen out of the rotation in Washington. Sessions has not impressed from the opinions I have seen on Sactown Royalty.