The Brooklyn Nets have officially agreed to trade veteran small forward player Andrei Kirilenko to the Philadelphia 76ers in exchange for forward Brandon Davies during a deal finalized on Thursday.

In return for Kirilenko's transfer to the 76ers' roster, the Nets will be adding Davies to their list of players, as well as receiving $3.4 million with a trade exception of $916,000.

It's a deal that could save the Nets up to $12 million when it comes to salary and taxes as Kirilenko is due $3.3 million this season, and had been out of the rotation and out of the game for a while due to personal reasons.

However, it is a deal some are considering a smart move for both parties, according to Philly. The Nets are hoping to shed salary expenses and gain new assets in turn as they traded off Kirilenko. For that, they added 2020 second-round pick Jorge Gutierrez to the deal, as well as cash considerations and the right to swap players with the Sixers come 2018 second-round picks.

In turn, all it cost the Sixers was a singular deal with Davies. On a side note, they have the highest salary cap space in the league. With the deal, the Sixers can keep their salary space free for any players they want to recruit in the future and with upcoming contracts being unloaded, the Sixers have the pick of the lot and have the opportunity to capitalize on any player they want.

Hopefully the exchange and the benefits end up well for the Nets, especially considering owner Mikhail Prokhorov's "exorbitant ways." Because of the expenses the team incurred, an internal memo sent out last June to all NBA teams revealed that the Nets were reportedly set to lose around $144 million for the 2013 to 2014 season.