Jay Glazer of FOX Sports is reporting that the New Orleans Saints and Miami Dolphins have agreed to a trade involving Reggie Bush. The trade, however, is contingent upon Bush accepting a re-negotiated contract with the Dolphins. Here's Glazer's tweet: 

I'm reporting the Saints and Fins have worked out terms of a trade for RB Reggie Bush, contingent on Bush agreeing to a new contract w Fins...Bush's agent Joel Segal negotiating w Dolphins tonight. It also hinges upon Bush taking deal and not deciding to stick w NO at reduced rate

Glazer is usually right about these things so I would think this is close to being a done deal. But if that wasn't enough, Jeff Darlington of the Miami Herald confirms the report and adds a few more details:

Source has confirmed, even at this late hour, that Dolphins are indeed working on a trade for Reggie Bush.     

GM Jeff Ireland spent much of night working on Bush trade, but has chosen to sleep on terms & make decision in morning.    

For now, Ireland is still grinding away at the office, I'm told. He hasn't gone to sleep -- still hammering out details of Bush acquistion.    

I'd say this is a good deal all around; well played by Mickey Loomis. The Saints get out of Reggie's contract while still getting value for him and the Dolphins get...Reggie Bush? Who knows, it might be interesting to see him used in the Wildcat. Also good news is the fact that Reggie would not be going to an NFC team.  

If this trade is confirmed in the morning, then I wish Reggie the best of luck. It's been a good run and I'll miss the great debates you've caused for years in Who Dat Nation.  

The only question remaining: who or what would the Saints be getting!?!? I don't think I'll be able to sleep tonight!