The New Jersey Nets this afternoon announced that they were rescinding their offer to Shareef Abdur-Rahim, and hence voiding the trade with the Blazers. This means that Portland won't be, after all, getting that lottery-protected first round pick from New Jersey next year and Rahim will be a free agent.
This is kind of a shame, and more than I'm disappointed that Portland isn't getting that pick, I'm shocked at New Jersey. If I were a Nets fan, I'd be awfully pissed off ... after all of the haggling, they kill the deal over a knee injury that Shareef suffered in high school, and one he's never missed an NBA game for? Between that and Shareef's comments over the weekend that he "didn't want to play there" anymore, it's a very bizarre turn of events. I imagine Shareef will land on his feet somewhere, likely for the full mid-level exception -- but it really makes you think that something else happened.