Rumor: Rafer Alston to Magic for Brian Cook

Magic give up: Brian Cook, First Round Pick

Get Rafer Alston who is expected to become the starter.

Memphis somehow involved as well.

The Orlando Magic are on the verge of acquiring one more point guard -- Houston's Rafer Alston -- to fill the void created by Jameer Nelson's potentially season-ending shoulder injury.

NBA front-office sources told ESPN.com that Orlando, Houston and Memphis have reached agreement on a three-way trade that was submitted before the league's 3 p.m. ET trade-deadline buzzer sounded Thursday.

After acquiring Tyronn Lue from Milwaukee earlier this month as its first Nelson fill-in, Orlando has managed to land Alston by agreeing to surrender a first-round pick to the Grizzlies.

The Rockets are expected to receive Grizzlies guard Kyle Lowry, Orlando forward Brian Cook and perhaps two other minimum-salaried players to make the finances work.

The deal is expected to be announced later Thursday after receiving formal league approval. Deals can be approved after the deadline as long as they were submitted to the league office before 3 p.m.