In order to save luxury tax money and create future options, the Cleveland Cavaliers have agreed to trade center Brendan Haywood and guard Mike Miller to the Portland Trail Blazers, according to league sources. The Blazers will also receive second round future picks from the Cavs as per the deal.
The Cavs will create two trade exceptions from the move, one worth $10.5 million, which is the largest trade exception of the league. The other one is for $2.94 million and the Cavs will also be receiving cash from the deal, according to sources.
The Blazers, on the other hand, are likely to waive Brendan Haywood and work a buy-out with Mike Miller.
The Cavs have been sitting on Haywood’s non-guaranteed contract if he’s waived by August 1, waiting for a lucrative player-based deal. But unable to find such, and concerned over the luxury tax issue, they finally decided to make a move to create trade exception. The Cavs successfully used the exception to acquire Timofey Mozgov from the Denver Nuggets in January last season.
Miller was a key off-season recruitment due to his 3-point shooting ability and relationship with LeBron James last season. Though he barely featured for the team in the playoffs.