The Brooklyn Nets acquired Dennis Schroder and Thaddeus Young from the Raptors in exchange for Spencer Dinwiddie, who was subsequently waived by Toronto.
Schroder, 30, was averaging 13.7 points and 6.1 assists in 30.6 minutes per game for Toronto, which signed him to a two-year, $26 million contract this offseason as a free agent from the Los Angeles Lakers to be the Raptors' starting point guard.
With the arrival of Immanuel Quickley as Toronto's long-term starter at the position, however, Schroder is now headed to Brooklyn. He will likely have the starting job for the Nets, who enter the deadline having lost 15 of their past 20 games.
That had been Dinwiddie's role with the Nets, although he had been one of several names mentioned as possibilities to leave Brooklyn in deals in recent weeks.
The Los Angeles Lakers are among the frontrunners to sign Dinwiddie when he clears waivers, sources told ESPN's Dave McMenamin.
Dinwiddie, who has a $20.5 million expiring contract, is averaging 12.6 points per game and shooting 39.1% from the field -- his lowest marks in both categories since the 2017-18 season.
This season he has been among the least efficient scorers in the NBA, ranking behind only rookies Scoot Henderson and Keyonte George in field goal percentage among players with at least 400 attempts, according to ESPN Stats & Information research. Dinwiddie's playmaking has bumped up, though, with him posting a career-best 4.5 assist-to-turnover ratio.
Young, 35, is returning to the Nets, for whom he played from the middle of the 2014-15 season through the 2015-16 season, a total of 101 games. He has played sparingly for Toronto this season, appearing in 23 games.