In the same week that the Cleveland Cavaliers acquired Shaq O’Neal from the Phoenix Suns, the defending Eastern Conference Champion Orlando Magic hauled in a significant piece themselves.

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The Magic acquired guard/forward Vince Carter from the New Jersey Nets in exchange for Rafer Alston, Tony Battie and Courtney Lee. With Carter, Orlando has one of the best starting fives in the NBA in Carter, Jameer Nelson, Hedo Turkoglu (if he’s re-signed), Rashard Lewis and of course, superstar Dwight Howard.

For the Nets, this trade frees up a ton of cap space for next summer. New Jersey also selected Louisville swingman Terrence Williams with the 11th overall pick in the NBA Draft on Thursday night. Williams is a potential sleeper and should see plenty of minutes next year with Carter now in Orlando.

Oddsmakers from online sports book SPORTSBETTING have given the Magic 8/1 short odds to win the 2010 NBA Championship, while the Nets are 80/1 long shots.

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Posted: 6/26/09 11:40PM ET