EAST RUTHERFORD, N.J. -- The New Jersey Nets on Tuesday rescinded their trade with the Portland Trail Blazers for Shareef Abdur-Rahim after the forward failed a physical last week.
"After consulting with several noted specialists, we felt that rescinding the trade is our best course of action," Nets president Rod Thorn said. "We will now look in other directions for ways to improve our team."
The Nets did not elaborate on their decision.
The Nets and Trail Blazers had agreed on a deal, pending a physical, that would have sent the nine-year veteran to the Eastern Conference squad in exchange for New Jersey's lottery-protected first-round pick in 2006 and the team's trade exception as a result of the Kerry Kittles deal to the Los Angeles Clippers in 2004.
Abdur-Rahim missed 22 games with the Blazers last season after undergoing surgery on his right elbow in January.
New Jersey agreed to a six-year deal with the 29-year-old veteran, who has averaged 19.8 points and 8.1 rebounds during his nine-year career with Vancouver, Atlanta and Portland.