The Brooklyn Nets have signed center Brook Lopez on a four-year, $61 million contract extension, effectively ending their pursuit of Orlando Magic All-Star Dwight Howard for the summer.

Once Lopez – the centerpiece of a package the Nets offered the Magic – signed his contract Wednesday it assured that he can’t be traded until Jan. 15 under NBA rules.

Magic general manager Rob Hennigan indicated earlier Wednesday that the franchise was unlikely to strike a deal with Brooklyn – the only team with which Howard has said he’d sign a long-term extension. “As currently constructed,” Hennigan said of talks with the Nets, “there’s not a whole lot there.”

via Adrian Wojnarowski of Yahoo! Sports