According to ESPN's Marc Stein, the Celtics have agreed to trade forward Gerald Wallace to the Golden State Warriors for forward David Lee.
Stein broke the story via Twitter this afternoon. The Warriors, a team looking to save cap room, will take on Wallace's $10 million expiring contract from the Celtics to shave off salary. The Celtics have enough to cap space to take on Lee's $15 million expiring deal, so the extra $5 million shouldn't be a problem for them.
However, Danny Ainge, Celtics president of basketball operations, may have another deal in place that involves Jared Sullinger or Kelly Olynyk. Ainge may look to create more cap space before heading into next season.
Lee, 31, is a ten-year veteran, he averaged 8 points and 5 rebounds in 49 games for the Warriors last season. Lee is also two-time all-star (2010, 2013). He's averaged 14.7 points, 9.5 rebounds throughout his career.