2:07pm: The trade is official, the Cavs announced. The terms of the deal are that the Cavs send Bogans and their 2018 second round pick to the Sixers for Philly’s 2015 second-rounder (protected for picks 31-50 and 56-60), though Cleveland won’t see the pick if the Sixers have to give it to the Celtics to satisfy an existing debt from previous trades. Cleveland also announced the creation of a traded player exception worth approximately $5.3MM. It’ll be precisely $5,285,817, equivalent to the value of Bogans’ salary.
1:52pm: The second-rounder headed to Philadelphia is Cleveland’s 2018 pick, Lloyd writes. There is no mention of any protections being attached, though the second round pick headed the Cavs most likely will have heavy enough protections that Cleveland is unlikely to ever make that pick.
1:11pm: The Cavs will receive a future second-rounder from the Sixers with protections attached, Jason Lloyd of the Akron Beacon Journal reports (Twitter link).
12:50pm: The Cavaliers have reached an agreement to trade newly acquired Keith Bogans to the Sixers, Marc Stein of ESPN.com reports. The deal will send Bogans along with a future second-rounder to Philly and create a $5.3MM trade exception for the Cavs in the process. It’s unclear what Cleveland will receive in return, and it may just be the exception that they essentially net from this deal.
Cavs GM David Griffin had said yesterday that acquiring Bogans was about “contract flexibility,” and it didn’t take long for him to cash in the chip that Bogans’ non-guaranteed deal provided him. On Thursday Cleveland had traded the non-guaranteed contracts of Erik Murphy, John Lucas III and Malcolm Thomas, along with Cavs’ 2016 and 2017 second round picks, for Bogans and the Kings’ 2015 and 2017 second-rounders, both of which are top-55 protected.
Assuming the Cavs don’t have to take back a player from the Sixers in order to close the deal, this will leave Cleveland with 15 players on their roster, with 11 carrying full guarantees, and two with partials. Ray Allen is still a possibility to end up with the Cavaliers, though he has numerous other opportunities for work, and hasn’t stated whether or not he intends to play this coming season yet.
As for the Sixers, they get a veteran shooting guard who is capable of starting for them, along with more draft picks, something Philly places high value on. Since Bogans is on a non-guaranteed deal there is little to no risk at giving him a shot at a rotation spot this season. He shouldn’t complicate the Sixers’ quest to nab the top pick in next year’s draft. This move will max out Philadelphia’s roster count at 20.