Atlanta must also consider the future of starting point guard Dennis Schroder, who hinted heavily to German media in May that he would prefer to be traded.
Lin has a year left on his contract, and the trade ends his injury-plagued stint in Brooklyn.
The Nuggets, who also reportedly just agreed to a one-year deal with Isaiah Thomas, will waive Whitehead, according to Wojnarowski.
Lin played just one game for the Nets in 2017-18 before rupturing the patella tendon in his right knee and missing the rest of the season.
The Jeremy Lin era has ended in Brooklyn, and the Nets acquired a protected 2019 first-round pick from Denver on a blockbuster night. The undrafted Harvard product averaged 14.5 points, 5.1 assists and 1.2 steals per contest in 2016-17, his first season with the Nets.
Jeremy Lin is headed to his fifth National Basketball Association team in the last five years.
For Denver, they were looking to clear salary to stay under the luxury tax.
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