The Cleveland Cavaliers, Orlando Magic and Portland Trail Blazers have agreed to a three-team trade involving Channing Frye and Anderson Varejao, according to reports from USA Today’s Sam Amick and Yahoo Sports’ Marc Spears.
The deal has Frye heading to Cleveland, Varejao and a conditional first-round pick are heading to Portland, and Jared Cunningham and a second-round pick heading to Orlando. Cunningham is expected to be waived, according to Spears.
The Cavaliers had been looking for a stretch-four (as they were also showing interest in New Orleans Pelicans forward Ryan Anderson), so Frye gives them the shooting big they coveted.
The Blazers get a first-round pick for facilitating this trade and they also get a veteran contributor in Varejao as they fight for a playoff spot in the Western Conference. However, it remains to be seen if they’ll keep Varejao – as Adrian Wojnarowski of The Vertical reports that he may be waived.
The Magic add the second-round pick from Portland and get Frye’s contract off of the books, which means they could have as much as $45 million in cap space available this summer.
Boston Celtics Officially Waive David Lee
The Boston Celtics announced today that they have waived forward/center David Lee.
“We thank David for his contributions to our organization and wish him nothing but the best in the future,” said President of Basketball Operations Danny Ainge.
Lee will become an unrestricted free agent if he clears waivers (as expected). Prior to being waived, Lee was the Celtics’ highest-paid player this season since his 2015-16 salary was $15,493,680.
The veteran big man appeared in 30 contests for the Celtics this season. He averaged 7.1 points, 4.3 rebounds and 1.8 assists in 15.7 minutes per game over that span.
Suns Expected to Waive DeJuan Blair
The Suns also acquire Blair, whose contract has a $2 million team option for next season, and Humphries, who is under contract for $4.6 million next season. The Suns are expected to waive Blair immediately.
VIDEO: NBA Trade Deadline Reaction
Did any move made before the NBA trade deadline make a true difference? BasketballInsiders’ Steve Kyler joins CineSport’s Noah Coslov to discuss what happened and didn’t happen on Thursday.
Did any trade-deadline deals make a true difference? Basketball Insiders’ Steve Kyler joins CineSport’s Noah Coslov to discuss what happened and didn’t happen on Thursday.[Editor’s Note: The Memphis Grizzlies received four second-round picks in the Courtney Lee deal, not first-round picks as stated in the video.]