The Cleveland Cavaliers have finally won the race for Channing Frye in a deal with Orlando Magic. Frye was also a target of the Los Angeles Clippers.
Anderson Varejao will be a part of the trade ending up with the Portland Trail Blazers. The Blazers will also acquire a first round pick from the Cleveland Cavaliers. Portland will also be sending a second round draft pick to Orlando Magic as per the deal, according to ESPN’s Dave McMenamin.
Portland will be waiving Tim Frazier to clear a roster spot for Varejao, as revealed by Shams Charania from The Vertical. Magic will also acquire Jared Cunningham from the Cavs, but he is going to be waived.
Earlier, the Cavs strategically pitched Varejao to Magic for Channing Frye as reported by Morning News USA on Thursday. The three-team deal finally worked out. The Magic will also have $45 million cap space in this July off-season.
By letting Anderson Varejao off to Blazers, the Cavs will have about $10 million in salary and cap space during the off-season. Cavs General Manager David Griffin released a statement on the trade, according to the Bleacher Report.
Anderson is a special player, teammate and person. Few players have earned the respect, support and admiration of an entire organization, fan base and community as Andy did here. Those are all things that made this a difficult deal to do. At the same time, we have a deep obligation to do whatever we can to reach our ultimate goal and we believe this was a deal that improves our team now and positions us better in the future as well. We thank Andy for his hard work, dedication and contributions to the Cavaliers and our community and wish him and his wife, Marcelle, the very, very best.