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Reports: Cavaliers, Knicks, Thunder in talks for three-team trade involving Dion Waiters, Iman Shumpert, and J.R. Smith

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Big things are happening.

David Richard-USA TODAY Sports

It started with a blur. Dion Waiters was set to start, then and suddenly he, Lou Amundson, and Alex Kirk were not even on the bench. Joe Harris took Dion's place in the starting lineup.

Then a roar:

The Dion Waiters era is over. I will have extended thoughts on that later. Who are the Cavs getting in return?

Iman Shumpert is clearly the prize here. He is young, profiles as a good defender, and the Cavs control him for a while as a RFA. As for Smith, he CAN be a premier sixth man. That is okay.

Dion? Apparently he is headed to the Thunder.

There were rumors that Reggie Jackson and Sam Dalembert could be included as well, but nothing has been substantiated yet. More Woj:

We will keep you updated as this develops, and as always, give you the breakdown of what it means when things are official.

UPDATE: It appears that, according to both Woj and Windhorst/Stein, the only players coming back to the Cavs in this deal will be Shumpert and Smith. On the way out: Waiters, Kirk, and Amundson.

The Cavs are also apparently getting a protected first round draft pick, and sending out a second round pick: