The Utah Jazz are part of a finalized three-team trade with the Los Angeles Lakers and Minnesota Timberwolves, team sources confirmed with the Deseret News on Wednesday evening.

ESPN’s Adrian Wojnarowski first reported Wednesday evening that the deal was finalized. He and multiple others had reported Wednesday afternoon that the deal was in the works.

According to Wojnarowski, here are the entire terms of the deal:

Jazz receive:

  • Russell Westbrook
  • Lakers’ top-four protected 2027 first-round draft pick
  • Juan Toscano-Anderson
  • Damian Jones

Lakers receive:

  • D’Angelo Russell
  • Malik Beasley
  • Jarred Vanderbilt

Timberwolves receive:

  • Mike Conley
  • Nickeil Alexander-Walker
  • 2024 lesser of Washington-Memphis second round pick and 2025 and 2026 second-round picks via Utah.

NBA reporter Chris Haynes reported Wednesday afternoon that Westbrook’s contract is expected to be bought out by the Jazz.

The Jazz were widely expected to be active in trade talks ahead of the NBA trade deadline on Thursday as they continue a monthslong makeover of the team.

In the offseason, the Jazz traded away stars Donovan Mitchell and Rudy Gobert, as well as Royce O’Neale and Bojan Bogdanovic. But they’ve remained relevant in the Western Conference and would make the playoffs play-in tournament if the season ended Wednesday.

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As an NBA veteran on a relatively young team, Conley has been a source of wisdom for the Jazz this season, according to the Deseret News’ Sarah Todd.

Conley came to the Jazz in July 2019 through a trade with the Memphis Grizzlies. In his first three seasons with the team, he averaged more than 13 points per game, but this year, his average is down to 10.7, according to ESPN.

The deal gives the Jazz yet another future first-round draft pick in exchange for players who did not figure into their future plans and new acquisitions Toscano-Anderson and Jones who could continue to be developmental pieces.

Wojnarowski also reported that the Jazz could open up more than $60 million in salary cap room this offseason.