Ian Thomsen of SPORTS ILLUSTRATED reports that the New Jersey Nets have traded Richard Jefferson to the Milwaukee Bucks.

In return, the Brooklyn-bound ball club gets Yi Jianlian. As a result of the deal, the Nets won’t have to pay Jefferson $15 million in 2010 - and the freed-up salary space could help lure LeBron James to the team when the Cavs star becomes a free agent that season.

The deal is also a win-win in other ways:

Yi’s camp was said to be ecstatic about going to the rebuilding Nets and playing in a major market, which was one of the original concerns when he was drafted by the Bucks last year. Yi threatened to not sign with Milwaukee in hopes of forcing a trade to another team.

The Bucks, meanwhile, are providing new coach Scott Skiles with a veteran player who can help him win now. The Bucks also retain their No. 8 pick in the draft to further revamp their team.

Just make sure Richard is always on the guest list for any important Milwaukee-area birthday parties - otherwise, some celebrants will get all choked up.