Update: The trade was officially executed Saturday morning.
The Hawks and Cavaliers have completed a trade that will bring Richard Jefferson and Kay Felder to Atlanta along with two future second-round draft picks and cash. The Hawks soon will waive Jefferson and Felder.
The draft pick in 2019 will be the lesser of the Lakers and Timberwolves selections. The 2020 pick is a protected pick from Portland.
The Cavs will receive the draft rights to European prospects Dimitrios Agravanis and Sergiy Gladyr.
Basically, the Cavaliers were looking to dump salary to reduce their luxury-tax bill and the Hawks accommodated them for the price of the draft picks plus cash.
Jefferson is set to make $2.5 million this season with $2.6 million non-guaranteed for 2018-19. Felder, who was a second-round draft pick for the Hawks in 2016, is guaranteed 50 percent of his $1.3 million salary for 2017-18.
Related headlines
- WATCH: Kent Bazemore says Hawks ready for season
- Five observations from Hawks loss to Mavericks (exhibition)
- Hawks want to run but know 'it's not easy'
- Hawks practice report: Transition D still priority over offensive boards
- New Hawks style suits Bembry
- Hawks practice report: Belinelli 'for sure' he'll be ready for season opener
- Hawks say 'scrappy' style gives them chance to exceed expectations
- WATCH: Hawks rookie John Collins on his NBA development
- Five observations from Hawks victory over Grizzlies (exhibition)
- Dewayne Dedmon (!) to shoot 3s as Hawks seek floor spacing
- Hawks waive John Jenkins, Jordan Matthews
- Can Hawks be fun to watch even if they don't win many games?
- Five observations from Hawks victory at Cavs (exhibition)
- NBA GMs: Collins is draft 'steal,' Budenholzer among best game coaches
- The best Hawks lineup, for now and the future
- Dewayne Dedmon immediately shows he can help the Hawks
- Five observations from Hawks loss at Heat (exhibition)
- Dennis Schroder is arrested, and I wonder if he's ready to lead Hawks
- Is Mike Budenholzer on board with Hawks rebuild?
- Will NBA draft lottery changes hurt Hawks?
- VIDEO: Hawks guard Belinelli says he's fitting in fast with new team
- Now healthy, Hawks Bazemore 'in love with the grind again'
- VIDEO: Hawks guard Schroder on leadership, featured role in offense
- VIDEO: Hawks coach Budenholzer on offensive tweaks
- Malcolm Delaney: 'People didn't understand everything I had to go through'
- Here are the details on Hawks contracts
- Hawks to 'practice harder' so they can play faster
- Hawks now are Schroder's show
- 'Greater pace, greater space' for Hawks? Sounds good
- Hawks GM Travis Schlenk Q-and-A Part 2: 'Excited' about 2018 draft class
- Hawks GM Travis Schlenk Q-and-A: 'We are going to be competitive'
- Five things to watch at Hawks training camp
- Hawks player preview: Dennis Schroder
- Hawks player preview: Taurean Prince
- Hawks player preview: Miles Plumlee
- Hawks player preview: Mike Muscala
- Hawks player preview: Ersan Ilyasova
- Hawks player preview: Tyler Dorsey
- Hawks player preview: Malcolm Delaney
- Hawks player preview: Dewayne Dedmon
- Hawks player preview: Quinn Cook
- Hawks player preview: John Collins
- Hawks player preview: Nicolas Brussino
- Hawks player preview: DeAndre' Bembry
- Hawks player preview: Marco Belinelli
- Hawks player preview: Kent Bazemore
- Hawks player preview: Luke Babbitt
