The No.1 pick in the NBA Draft is yet to be announced, but that doesn’t mean the action hasn’t started yet. ESPN.com is reporting that the Portland Trailblazers have agreed to a deal to send PG Sebastian Telfair to Boston for the No. 7 overall selection.

The Boston Celtics acquired second-year Portland Trail Blazers point guard Sebastian Telfair, center Theo Ratliff and a 2008 second-round pick for the No. 7 pick in Wednesday’s NBA draft, as well as forward Raef LaFrentz and Dan Dickau, multiple sources told ESPN.com.

The trade was agreed upon Wednesday afternoon but it came after the 2 p.m. ET deadline which means the Celtics will still be on the clock, selecting for the Blazers, when the No. 7 pick comes up during the draft.

Portland will pick at No. 4 and No. 7, barring any more trades.

Apparently, the Celtics were not thrilled with the point guard options at the seven spot in the draft. Telfair became expandable in Portland after missing most of last season with a thumb injury. Steve Blake and Jarrett Jack took over for Telfair during his absence and played well enough for the Trail Blazers to part with the young guard.

There also have been reports that the Celtics are actively seeking a trade with the Philadelphia 76ers for Allen Iverson.