The Boston Celtics have agreed to send Gerald Wallace to the Golden State Warriors in exchange for two-time All-Star David Lee, according to media reports.

The deal cannot become official until the moratorium on NBA business ends Thursday.

Lee, who will make $15.5 million next season, became expendable given the emergence of Draymond Green and the Warriors' quest for luxury tax relief.

The 32-year-old Lee provides the Celtics with a quality rebounder and a post-up threat, something the team lacked with young players like Jared Sullinger and Kelly Olynyk spending much of their time on the perimeter.

Wallace appeared in just 32 games for the Celtics last season and will make $10.1 million in the final year of his contract. Golden State can reduce their tax bill even further by waiving Wallace and taking advantage of the stretch provision in his contract.