The Nets have acquired All-Star point guard Deron Williams from the Utah Jazz in exchange for Devin Harris, rookie power forward Derrick Favors, two first round picks and $3 million.

The deal was first reported in The Record.

“We are very excited to add a player the caliber of Deron Williams to our roster,” said Nets general manager Billy King in a statement released by the team. “He is one of the premier point guards in the NBA, and his skill and talent level will bolster our franchise as we continue to build towards our goal of becoming a championship-caliber team.”

In a separate deal, Yahoo! Sports reported the Nets would send Sparta-raised power forward Troy Murphy to the Golden State Warriors in exchange for center Dan Gadzuric and power forward Brendan Wright.

Williams, who is averaging 21.3 points and 9.7 assists per game, was blamed, to a large extent, for the sudden resignation of longtime Jazz coach Jerry Sloan. Reportedly, Sloan became incensed during a game against Chicago that Williams ran a different play than the one Sloan had called, and Sloan wanted to discipline Williams. When that didn't happen, Sloan resigned.

Williams, who is part of the stellar free agent class of 2012, along with Chris Paul and Dwight Howard, denied being the one who forced Sloan out, but that incident no doubt contributed to the Jazz feeling the need to move him. Utah has lost four straight games and sits in eighth place in the Western Conference, a half-game ahead of Memphis, and so Jazz management felt the need to make a big move.

In Harris -- who, ironically, is very close friends with Williams -- the Jazz gets a point guard who averaged 15.0 points and 7.6 assists for the Nets this season, but who had been dangled in trade discussions for Carmelo Anthony all season, and had become weary of all the rumors. The Nets believed it was necessary that he be moved for his and the team's sake, since he seemed to be affected by all the chatter.

Favors, 19, had been the centerpiece of all of the Nets-Nuggets discussions about Anthony. The youngest player in the NBA, he is averaging 6.3 points and 5.3 rebounds in 19.5 minutes per game since being selected No. 3 overall in last June's NBA Draft. Last weekend, Favors played in the Rookie Challenge game in Los Angeles at NBA All Star Weekend.

Acquiring Williams, 26, especially considering what the Nets gave up, seems to be a better deal for the Nets than getting Anthony would have been, especially considering how much the Nets would have given up in that deal -- Harris, Favors, Murphy, rookie guard Ben Uzoh and four first round picks. And having a point guard of Williams' caliber should be more of a draw to potential free agents than having Anthony, a small forward who would dominate the ball.

Williams' presence in their lineup gives the Nets a star they have not had since Jason Kidd was traded in 2008, but there is one small thing to consider: The Nets will need to convince Williams to re-sign with the Nets when his contract expires, and that may take some recruiting. The Salt Lake Tribune tweeted Williams "is not happy with the trade.'' According to a tweet by Utah sports radio personality David Locke, Williams was "stunned'' by the trade, and declined immediate comment.

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