Live Coverage: NBA Trade Deadline Live Blog -- No deal for Celtics

WASHINGTON -- The NBA Trade Deadline is at 3 p.m. Thursday afternoon and I'll be guiding you guys through the latest news and rumors here at BSJ to give you real-time coverage of any Celtics and league wide moves as I work the phones myself. How legitimate is a rumor? What are the odds someone gets moved? Who won a deal? We'll be reacting in real-time here to all the happenings. Feel free to chime in as well in the comment section with any questions you have as the afternoon develops. You can also check out the live answers in our Q-and-A from noon here

3:03: A league source indicated to Bostonsportsjournal.com that the Celtics have elected to stand pat at the trade deadline. Shams Charania of Yahoo Sports was first to report the news. Look for Boston to be active in the buyout market in the coming days.

2:50: The Magic make another move towards tanking by dealing away starting point guard Elfrid Payton to the Suns for a second-round pick per Woj. Payton is a former lottery pick that will be a restricted free agent this summer, giving him next-to-no value on the trade market. Suns get a cheap look at him for a couple months while Magic elected they didn't want to re-sign him anyway.

2:30: The Celtics remain quiet while Adrian Wojnarowski of ESPN.com indicates the Grizzlies may be doing some posturing by stating they could just hold onto Tyreke Evans if the offers don't improve up to trade deadline and re-sign him this offseason. That's a long shot given the fact they have sat him out for a week and have plenty of money tied up this offseason. They clearly want more than a second round pick for the guard but the C's and other squads aren't ready to bite.

2:15: Another three-team deal in play with Woj reporting. Nuggets get Devin Harris, Mavs get Doug McDermott and the Knicks land Emmanuel Mudiay. This is noteworthy for the Celtics since Denver was one of the teams in the mix for Tyreke Evans earlier this week, but the fit there makes less sense now with Harris in the fold.

2:10: Old friend Kendrick Perkins has been playing in the G-League for the Cavs all year long and it appears he'll be rewarded with a roster spot after all these trades. Marc Stein of the New York Times is reporting that he's in a likely candidate to be signed after trade deadline.

2:00: Buyouts should be coming fast and furious once the trade deadline passes at 3 p.m. but for now, it has been reported the Jazz have already announced they plan on waiving Derrick Rose, with Adrian Wojnarowski reporting interest from the Wolves to bring him in. One name for Celtics fans to keep an eye on? Joe Johnson. He was sent to the Kings in a three-way deal with Cleveland and Utah and will be looking to play for a playoff team in the coming months.

1:45: A couple minor moves that have gone on after the Cavs blockbusters. Raptors and Kings swapped disappointing prospects (Malachi Richardson, Bruno Caboclo) in what amounted as a salary dump for the Kings. James Ennis (a potential under the radar Celtics target) was moved to the Pistons for a second round pick and Brice Johnson as well.

1:30: No real movement on the Celtics front just yet, but Marc Berman of the New York Post has reported that Knicks inquired on Guerschon Yabusele as a potential addition. C's wouldn't move him for any rentals (Beasley, McDermott) in my opinion unless some picks get involved. Something to keep an eye on going forward.

1:15: The Cavs upheaval continues! Minutes after trading away Isaiah, they landed Rodney Hood and George Hill in a 3-team deal with the Kings and Jazz, sending out Jae Crowder, Derrick Rose and Iman Shumpert as part of the package, as well as draft compensation. Dwyane Wade was also dealt away to the Heat for a protected second round draft pick.

Initial reaction: It's hard to remember a potential contender ever overhauling their team so much ahead of the trade deadline. Nearly half of the Cavs rotation will be completely new blood for the rest of this season which will be tough for Ty Lue to integrate in the months to come. With that said, this is a huge influx of youthful guard talent for the Cavs. They've got a couple elite shooters in Clarkson and Hood, along with a strong point guard now in Hill who is healthy. Talentwise, they are a far more intriguing blend now that they had before.

12:58: The blockbuster of the day so far? Isaiah Thomas traded away by the Cavs with Channing Frye and the Cavs 2018 first round pick for Jordan Clarkson and Larry Nance Jr.

Initial reaction: What a rough 12 months for Isaiah. From playing for a contender to being traded to a lottery team out of the playoff race in the final year of his deal. This is a solid move in the interim for the Cavs though since they'll upgrade with Clarkson from Isaiah's current play on the offensive end and Nance Jr. is a valuable defender and offensive rebounder. Cavs are the better team now but their payroll woes for next year got rougher now with Clarkson's pricy contract on the books. This is an all-in win now move.