ESPN is reporting that Portland has traded Sebastian Telfair to Boston for the #7 pick. Portland is also receiving Dan Dickau and possibly one more player, but that part is unclear.
The deal was finalized after the 11:00 EST deadline, so Boston will technically will be on the clock with that pick but will select for Portland.
I am both excited and disappointed at the same time. Excited that Portland acquired the #7 pick and got a bit of clarity regarding their PG situation, but disappointed that we won't get to see what Telfair does. As I wrote yesterday in a guest-piece for CelticsPride, I think he showed enough potential where I'd like to see what he could do with another season, even if he was inconsistent and looked for his shot too much. That said, I do believe that Portland received tremendous value for him, and am surprised he fetched that high a pick.
We'll have a new mock draft up soon to reflect this.
Update (3:23 pm PST): It appears that the deal also includes Portland receiving Raef LaFrentz and getting rid of Theo Ratliff.
This makes the deal Telfair and Ratliff for the #7, Dickau, and LaFrentz.
WHY ON EARTH would Portland want Raef LaFrentz? I'm still thinking about this deal and getting ready for the draft, but you can be assured there will be some thoughts posted later.