In a move to avoid going over the NBA’s luxury tax threshold this season, ESPN is reporting that the Cleveland Cavaliers have traded guard Keith Bogans to the Philadelphia 76ers.
ESPN sources say Cavs have agreed to trade newly acquired Keith Bogans to Philly
— Marc Stein (@ESPNSteinLine) September 27, 2014
Bogans, who had only been acquired from the Boston Celtics two days ago, was dealt along with a 2018 second round draft pick in exchange for a protected second round pick in next year’s NBA draft. More importantly, the Cavaliers also receive a $5.3 million trade exception for the upcoming year, which was the unguaranteed amount of Bogans’ contract for this season. The veteran guard also has an unguaranteed deal for 2016-17 for $5.5 million.
The woeful 76ers are on the opposite end of the financial spectrum, with plenty of space—even after the trade, to accommodate such a deal.
The trade was similar to Thursday’s deal with the Celtics, in which the Cavaliers unloaded the unguaranteed contracts of Malcolm Thomas, John Lucas and Erik Murphy, along with rookie Dwight Powell to acquire Bogans. Cleveland also tossed in a pair of future second round draft selections. In that case, it was the Celtics who were looking for salary cap relief.
The move not only gives the Cavaliers more payroll flexibility, but also creates an opportunity for the team to use the exception in a deal during the course of the season.
Regarding that latter issue, there may still be one more deal in this vein for Cleveland general manager David Griffin, with veteran center Brendan Haywood the player most likely to change uniforms. That’s because Haywood has a $10.5 million unguaranteed contract for next season.