The Jazz have traded all-star point guard Deron Williams to the New Jersey Nets for two players, two draft picks and cash in a shocking NBA trade, The Salt Lake Tribune has learned.

However, a high-ranking Jazz executive says the deal has not officially been completed. "It's still in the works," the source said.

Coming just two weeks after Jazz coach Jerry Sloan and top assistant Phil Johnson resigned, Utah has sent their franchise player to the Nets in exchange for Devin Harris, Derrick Favors, two first-round draft picks and $3 million in cash.