Matthew Dellavedova is indeed headed to the Milwaukee Bucks, but the Cleveland Cavaliers aren’t losing him for nothing.
Per Chris Haynes of cleveland.com, the Cavs have arranged a sign-and-trade for Dellavedova that will net them a trade exception worth $4.8 million. Additionally, the Cavs are sending cash to the Bucks and are receiving the rights to Spanish forward Albert Miralles. The Cavs also announced the trade in press release.
OFFICIAL: Cavs acquire $4.8 MIL trade exception in deal with @Bucks for Matthew Dellavedova. MORE: https://t.co/mw0h0iCK6d— Cleveland Cavaliers (@cavs) July 7, 2016
“We wish Delly the best as he continues his career in Milwaukee,” said Cavs GM David Griffin per the release. “Delly is a special person on and off the court and was a very dedicated, hard worker that grew as part of our team and made significant contributions to our success. Our coaches and his teammates will always appreciate his 'all in' approach to the game, as he was ready to contribute whenever his number was called. We know he will continue to grow and succeed as he takes the next steps of his NBA journey with the Bucks.”
The coup for the Cavs here is the trade exception, as ESPN’s David McMenamin reports that the Cavs will use this exception to finish the deal bringing Mike Dunleavy to Cleveland. trade exceptions at its disposal. Considering the Cavs’ lack of cap room, trade exceptions are the one way they can acquire players barring trading a major piece away. The Cavs have several other exceptions, most notably a $9.6 million exception created when they traded Anderson Varejao to the Portland Trail Blazers last season.
Miralles is 34 and likely will never play a minute in the NBA. He has played overseas since being in the second round of the 2004 NBA Draft by the Toronto Raptors.