Adrian Wojnarowski of Yahoo Sports says that the Wizards and Celtics are discussing a blockbuster deal.

In a dramatic move that would resuscitate their fading championship hopes, the Boston Celtics are discussing a deal with the Washington Wizards for forwards Antawn Jamison and Caron Butler, league sources told Yahoo! Sports on Friday.

The proposed deal would send the expiring contracts of Ray Allen, Brian Scalabrine and J.R. Giddens to the Wizards, a move that would signal the start of Washington’s rebuilding process.

The trade isn’t imminent, but talks have progressed and Celtics GM Danny Ainge has positioned his organization to make one of the boldest trade deadline moves in years. For the Celtics, ownership would have to agree to take on an additional $24 million in salary next season between Jamison and Butler. Jamison makes more than $15 million in 2011-12, but most owners are discounting those salaries because of an assumption that there will be a labor lockout and some, if not all, of that money will never be paid to the players.

For his part, Celtics GM Danny Ainge denies the rumors:

Celtics president of basketball operations Danny Ainge said Friday he has not discussed trades involving the Charlotte Bobcats or Washington Wizards.

“There is no truth to either one of those,” Ainge said. “I have had conversations with a lot of teams but those have never been discussed. There are a lot of things I would like to do but I don’t feel a need to do something. I am always looking to upgrade the team, if possible.”

Have you ever heard a GM confirm a trade rumor? They always deny, deny, deny. So there’s no telling if there’s any truth to it, though Wojnarowski is a respected NBA writer.

Obviously, this trade would be a coup for the Celtics in terms of talent. Ray Allen isn’t playing horribly (16-3-3, 45% shooting), but he’s shooting a career-low 34% from long range and is 34 years old. Caron Butler (29) and Antawn Jamison (33) are both younger, and are both All-Star caliber players. Wojnarowski mentioned that the contracts are a concern (especially Jamison’s), but if the two players gelled in the Celtics’ lineup, it would push the franchise back into serious title contention.

However, it would be difficult to get the C’s five best players on the court. Paul Pierce and Caron Butler can play on the wings, but for Jamison to play PF, that means Kevin Garnett would play center. Against certain teams (say, Atlanta), this wouldn’t be a problem, but KG would get beat up down low against Shaq and Dwight Howard. Offensively, this lineup would allow the C’s to spread the floor and post up Pierce, Jamison and Butler in favorable matchups.

For Washington, this trade would confirm what we all already know — the Wizards are rebuilding. If I were running things, I’d hold onto Butler (since his contract is affordable) or at least wait for someone to offer a good young piece. The deal, as outlined, is simply a salary dump. The Wizards would be giving Jamison and Butler away for cap flexibility. With this trade, the Wizards would have approximately $20 million in cap space this summer, and that assumes Gilbert Arenas is still on the payroll.

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