Lin, 29, played just one game last season after rupturing the patellar tendon in his right knee in the season opener against the Indiana Pacers on October 18.
Brooklyn has traded Jeremy Lin to the Hawks, league sources tell ESPN.
The move helps clear up the Nets' logjam at point guard and sends Lin to another team that is also pretty crowded at the position.
The Jeremy Lin era has ended in Brooklyn, and the Nets acquired a protected 2019 first-round pick from Denver on a blockbuster night.
Lin has a year and $12.5 million left on the contract he signed two summers ago.More news: Common heart drug recalled due to contamination with possible carcinogen
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Lin was traded to Atlanta for an unprotected 2020 second-round pick via Portland and.
Jeremy Lin is headed to his fifth National Basketball Association team in the last five years.
As for the other deal, the Nuggets freed up $21 million in salary and potentially save $43 million in payroll and luxury tax next season, Wojnarowski reported.
Faried and Arthur both saw minimal time in Denver last season with Faried playing just 14.4 minutes per game in 32 contests and Arthur getting 7.4 minutes per night in 19 games.