The Nets dealt the eight-time All-Star, who grew up in Daytona Beach and lives in Orlando, and forward Ryan Anderson to the Magic on Thursday for point guard Rafer Alston, shooting guard Courtney Lee and power forward Tony Battie.

The trade gives the Magic another star in a lineup that already includes Dwight Howard and Rashard Lewis. It also might convince Hedo Turkoglu, who can opt out of his contract and become a free agent Wednesday, to stay.

Carter, 32, found out about the trade at his summer camp, adding he believed it was a joke at first. Then the 6-foot-6 guard was excited to join a team that reached June's Finals.

"Every player hopes for an opportunity like this, to just once compete for an NBA championship," said Carter, who has averaged 23.5 points over 10 seasons, 20.8 in 2008-09. "This a dream come true for me."

Anderson, taken 21st last year, started 30 games and averaged 7.4 points and 4.7 rebounds.

Lee started 42 games as a rookie, averaging 8.4 points. But the Magic was willing to give him up to acquire Carter and clear payroll.

With Jameer Nelson already named the starting point guard for next season, the Magic sought to move Alston and his $5.25 million salary. Alston was acquired at the deadline after Nelson sustained what was then called a season-ending shoulder surgery. Battie will make $6.2 million.

Carter's departure ends the era of the Nets' Big Three. Point guard Jason Kidd was traded to Dallas in 2008 and Richard Jefferson to Milwaukee on draft day a year ago.

But the deal opens about $17.5 million next summer, when LeBron James, Dwyane Wade, Chris Bosh and Amare Stoudemire can be free agents.

"The trade (gives us) numerous options in the long-term development of our team," president Rod Thorn said. "(And) we believe in Courtney Lee, we have acquired a young, dynamic player who will be a very good player for a number of years."

Shaq elated by trade

CLEVELAND - The Cavaliers united two superstars, acquiring Shaquille O'Neal from the Suns in hopes he can help LeBron James earn his first title.

Cleveland sent center Ben Wallace, guard Sasha Pavlovic, a 2010 second-rounder and $500,000 for the center who won titles from 2000-02 with the Lakers and in 2006 with the Heat.

"Shaq is an incredible ballplayer," James said in a statement. "I have a lot of respect for him and his game. It will be a real honor to play with Shaq as my teammates."

After four seasons in which he played no more than 59 games, O'Neal had a resurgence last season. In 75 games, he averaged 17.8 points, 8.4 rebounds and 1.4 blocks in 30 minutes per game.

"I was elated about the trade because I get to play with one of the greatest players to ever play the game in LeBron James," O'Neal, 37, said. "(I expect) a lot of fun, a lot of just having a good time and a lot of smiling, and a lot of winning."

The Suns got little in return except financial flexibility. Wallace is set to make $14 million in the final year of his deal. And they plan to buy out Pavlovic, which will save $3.45 million.

"Clearly the last couple of years we've been on the decline, and things have not worked out as well as we had hoped," Phoenix general manager Steve Kerr said. "So now it's time to adjust."

Hawks-Warriors: Atlanta got guard Jamal Crawford for guards Acie Law and Speedy Claxton. Before the deal, Crawford, who averaged 19.7 points last season, signed paperwork indicating he won't opt out of his contract. He is due to make about $20 million over the next two years. Since signing a four-year, $25.5 million deal in 2006, Claxton, 31, has appeared in 44 games (none in 2007-08) due to knee injuries. Law has averaged 3.6 points since being the 11th pick in 2007.

Knicks-Grizzlies: New York got center Darko Milicic for guard Quentin Richardson and cash. This will be Milicic's fourth team since being taken No. 2 overall by the Pistons in 2003. Last season, his ninth, Richardson averaged 10.2 points.