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One of the newer rumors floating around is Indiana Pacers forward Jermaine O’Neal going to the New Jersey Nets for swingman Vince Carter.? If it should happen, it would qualify as the marquee transaction of the 2007 season.? Back in June 2007, both teams discussed a multi-player swap involving O’Neal; recently they renewed those talks again, according to sources familiar with the conversations between both parties.

The newest trade proposal would send Carter, Marcus Williams and Jamaal Magliore to the Pacers for O’Neal; as of right now, O’Neal is sidelined with a bone bruise in his knee that should shelve him for at least 2 weeks.? One obstacle that could sink this particular deal is the health and money that O’Neal is making in Indiana – $64 million through the 2009-10 season.

And there’s some risk in the Nets giving up Carter – he has been rather incosistent since signing a 4-year, $61.8 million deal back in July?2007; yet he is without a doubt the Nets’ “go-to” guy offensively.? Would the Nets give that up for a big forward who is suffering what could be his worst season to date?? Another obstacle – the Nets would be a luxury-tax paying team with the trade; O’Neal makes $19.7 million this season.? If the Nets had their way, they’d rather give up?have Indiana take center Jarron Collins (2 years, $12.3 million) instead of Magliore (1 year, $4 million).

It also so happens that Nets owner Bruce Ratner likes Carter.? The thing is this: while O’Neal, combined with Jason Kidd would better prepare the Nets against the Celtics, Pistons and other Eastern teams who will be in the playoffs this season, would they miss Carter’s shooting, especially if O’Neal drew double-teams in the post?? Bottom line – is O’Neal’s current health and salary situation worth the risk to the Nets?? Again, not only would they take on O’Neal but also give up Carter and pay a luxury tax for the privilege.? The trading deadline is in February – enough time for O’Neal’s knee to heal.? Perhaps then this will become more transparent.?