The Miami Heat has agreed to trade forward Shawn Marion and point guard Marcus Banks to Toronto for center Jermaine O'Neal and small forward Jamario Moon, an agent for one of the players said Friday.
The deal is contingent on all the players passing physicals.
"The Heat gave us a head-ups that the deal is going down," said Michael Higgins, agent for Banks.
The long-rumored deal will give the Heat a center, filling one of its biggest weaknesses. O'Neal's contract runs through next season and will pay him $23 million in 2009-10.
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Marion, earning $18.4 million this season, has a contract expiring after this season, and the Heat had not made any recent attempt to re-sign him.
The trade will allow the Heat to be a major player in free agency in summer 2010, when it is expected to try to sign Phoenix's Amar'e Stoudemire or Toronto's Chris Bosh. The Heat pursued a trade for Stoudemire in recent days, but the Suns are looking elsewhere.