The Brooklyn Nets have reached two trade agreements, one with the Chicago Bulls and one with the Pelicans.
The first will send former first-round draft pick Marquis Teague to the Brooklyn Nets for Toko Shengelia, according to Adrian Wojnarowski of Yahoo! Sports.
The second trade agreement will send guard Tyshawn Taylor and cash to the New Orleans Pelicans for a conditional future draft pick, Yahoo! Sports sources said.
Teague, the 29th overall pick in the 2012 NBA draft, has spent much of this season bouncing between the Bulls and the NBA D-League Iowa Energy. He has averaged 2.4 points on 24.2 percent shooting in 19 games with the Bulls this season.
Shengelia has spent limited time with the Nets, averaging 1.5 points and spending most of the past two seasons in the D-League.
Taylor, headed to the Pelicans, was a second-round pick in the 2012. He has averaged 3.9 points per game in 11.7 minutes with the Nets.
According to the report, both trades will likely be completed Tuesday.