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Cavs Acquire Frye, Trade Varejao To Blazers

February 18th, 2016 at 11:54pm CST by Chuck Myron

Kim Klement / USA Today Sports Images

4:52pm: The Cavaliers have acquired Channing Frye and traded Anderson Varejao to the Trail Blazers in a deal that’s officially structured as two separate trades, the Cavs announced via press release. The Blazers and Magic have also formally acknowledged their respective sides of the arrangement. The Cavs sent Varejao and their top-10 protected 2018 first-round pick to the Trail Blazers for their own 2020 second-round pick, which Cleveland had relinquished to Portland in a previous trade. Cleveland then sent it to the Magic, without protection, along with Jared Cunningham, for Frye. The Blazers subsequently waived Varejao, and John Denton of Magic.com confirms an initial report from Marc J. Spears of Yahoo Sports that the Magic will waive Cunningham (Twitter link).

The Cavs hadn’t been optimistic about landing Frye, believing the Clippers would outbid them, notes Jason Lloyd of the Akron Beacon Journal (on Twitter), but L.A. wouldn’t bite on a reported proposal that reportedly involved Lance Stephenson and C.J. Wilcox. The Magic had been trying to trade Frye, according to an earlier report from Marc Stein of ESPN.com, who suggested the effort to find a taker for the 32-year-old would accelerate once the team traded Tobias Harris, Frye’s cousin. Frye has two years and nearly $15.228MM left on his contract after this season.

“Channing Frye is someone we know well. His length, floor spacing ability and locker room presence will impact us positively,” Cavs GM David Griffin said in the team’s statement. “He is a great fit with our group, both on the court and off, and we look forward to Channing, his wife Lauren, and their children, Hendrix and Margaux joining us here in Cleveland.”

The 32-year-old Frye has long been a prototypical floor-stretching big man, nailing 39.7% of his 3-pointers this season and 38.7% for his career. He averaged 17.1 minutes per game this season in Orlando, the second fewest of his career but more than Varejao, who saw 10.0 minutes per game this year in Cleveland, where he’s spent all of his 12 NBA seasons. The longtime confidant of LeBron James, who entered the league the same year Varejao did, saw his playing time slashed to new lows this season as he returned from an injury that prematurely ended last season for him.

“Anderson is a special player, teammate and person,” Griffin said. “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.”

The Cavs reportedly offered Varejao for Frye to the Magic, who were reluctant, but the Cavs insisted that they be able to offload Varejao somehow if they were to come away with Frye, wary of the tax implications of having both on the roster. Thus, the Blazers came into the picture, absorbing Varejao into their ample cap space and turning a second-rounder into a first for their trouble. Varejao has close to $10MM in guaranteed salary for after this season remaining on the extension he signed with the Cavaliers in 2014.

“This was an opportunistic way to use our cap room to acquire a valuable asset,” Blazers GM Neil Olshey said.

The pair of swaps save the Cavaliers an estimated $10MM in combined salary and projected luxury tax penalties, as Dave McMenamin of ESPN.com notes (Twitter link). Frye makes $8,193,029 this season, while Varejao has a $9,638,554 salary that increases slightly thanks to a 5% trade kicker. Cunningham makes the three-year veteran’s minimum salary of $981,348 but only costs $947,276, the equivalent of the two-year veteran’s minimum, to the Magic because he is on a one-year deal. Orlando will be stuck with that figure on its books, though that’s scarcely burdensome, since the subtraction of Frye takes the Magic significantly below the salary cap.

It’s somewhat surprising that Orlando isn’t keeping Cunningham, the 24th overall pick from 2012 whose NBA career was in jeopardy before a strong preseason performance in which he averaged 12.4 points per game allowed him to make Cleveland’s opening-night roster on what was initially a non-guaranteed deal. He forged a close kinship with LeBron. Regardless, neither he nor Varejao will be allowed to rejoin Cleveland this season even if they clear waivers and become free agents.

The Cavaliers used their $10,522,500 Brendan Haywood trade exception to accommodate the Frye trade, reducing its value to $2,329,471. The Varejao trade allows them to create a new sizable trade exception, worth $9,638,554, that won’t expire for another year. Offloading Cunningham allows the Cavs another new trade exception, worth $947,276.

Frank Isola of the New York Daily News first reported the Cavs would acquire Frye from the Magic (Twitter link). Sam Amick of USA Today had news of Varejao going to the Blazers (Twitter link), while Adrian Wojnarowski of The Vertical on Yahoo Sports reported that the Blazers would waive him (Twitter link). USA Today’s Jeff Zillgitt heard Cunningham was going to Orlando (Twitter link), while Marc J. Spears of The Vertical on Yahoo Sports relayed that he’d also be waived (Twitter link). McMenamin had word that the first-rounder was going to Portland (Twitter link), and Eric Gunderson of The Columbian heard that the first-rounder headed to Portland was top-10 protected (Twitter link). Spears reported the Magic would get a second-round pick (Twitter link). RealGM shows it’s Cleveland’s own 2020 pick and unprotected, and also confirms that the 2018 first-rounder going to Portland is Cleveland’s own.

Central Notes: Rubio, Forman, Harris

February 18th, 2016 at 9:30pm CST by Eddie Scarito

The Bulls held off on making any major trade deadline moves because no offers significant enough to improve the team materialized, according to GM Gar Forman, K.C. Johnson of The Chicago Tribune relays. “We understand the frustrations. Up to this point, it has been a disappointing year,” Forman said. “We all realize — from ownership to the front office to the players to the coaching staff — we haven’t done as well as we thought we would do. We hold ourselves accountable that we haven’t met expectations. With that said, we certainly were not in any type of panic mode. We looked at the big picture. Obviously, the injuries that we’ve had have hurt. But that’s not the only reason. … We explored heavily and were very, very active with talks with a lot of teams. There wasn’t something we felt … significant enough to do something right now.”

Here’s the latest from the Central Division:

The Pistons believe that Tobias Harris is still on the rise as a player and that he will be able to help the franchise in a variety of ways, Keith Langlois of NBA.com writes. “The interesting thing is being able to look at what he was doing this season but going back to our free-agent preparation for the summer and the review of last year’s performance,” GM Jeff Bower told Langlois. “We feel that showed us a player with a variety of skills that can help a team in numerous ways. We also think that his play and the projection of his performance over the next five years is on a steady incline based on what we’re seeing and think he has a lot of room to grow as a player. We really like that this is a move that can be looked at as a long-term move as well as one that will fit with our core group of players and we’ll be able to keep them together due to contract certainty. Those are all pieces that were pretty important.”
The protected first round pick the Cavaliers sent to the Trail Blazers as part of the Channing Frye trade will become two second round picks if it is not conveyed in 2018 or 2019, Erik Gunderson of The Columbian relays (on Twitter).
The Bulls never attempted to trade power forward Pau Gasol, though the team did receive numerous inquiries about his availability, Forman insists, as Nick Friedell of ESPN.com notes (Twitter links). Forman also indicated that the team still hopes to re-sign center Joakim Noah, who will become an unrestricted free agent this offseason, Friedell adds.
Cavs GM David Griffin noted that the team had a deal in place with Frye when he was a free agent in 2014, but Cleveland couldn’t make the numbers work because it needed all of its cap space to sign LeBron James, Jason Lloyd of The Akron Beacon Journal tweets.
The Bucks made several attempts to pry point guard Ricky Rubio away from the Wolves but balked when Minnesota requested shooting guard Khris Middleton in return, Jon Krawczynski of The Associated Press reports (Twitter link).

Latest On Dwight Howard

February 18th, 2016 at 1:57pm CST by Chuck Myron

1:57pm: Howard will stay with the Rockets, ending weeks of speculation of him getting traded, according to Adrian Wojnarowski of The Vertical on Yahoo Sports (Twitter link).

11:07am: There is a strong belief from Howard’s camp that he will not be traded before today’s deadline, according to Ken Berger of CBS Sports.

7:44am: The Rockets and agent Dan Fegan are hard at work to find a new team for Dwight Howard, reports Frank Isola of the New York Daily News (Twitter link). Houston is prioritizing its pursuit of a Howard trade over serious talks with the Jazz on a Ty Lawson/Trey Burke swap, though no favorite to acquire Howard has emerged, tweets Marc Stein of ESPN.com. Most executives from teams aside from the Rockets were saying as of Wednesday that a deal involving Howard was unlikely, according to Jonathan Feigen of the Houston Chronicle (Twitter link).

Houston turned down an offer of Al Jefferson and Spencer Hawes from the Hornets, league sources tell Isola, and little chance exists of those teams doing a Howard deal unless Houston’s demands come down markedly, as Rick Bonnell of the Charlotte Observer hears (Twitter links). The Rockets called the Cavs to offer Howard, but Cleveland didn’t bite, according to Sam Amico of Amico Hoops (on Twitter).

The Celtics, Heat, Hawks and Raptors have also reportedly spoken with the Rockets about Howard, at least on a cursory level, though Houston has apparently been underwhelmed with the proposals it’s hearing. One GM told TNT’s David Aldridge he doesn’t think the Rockets want to end up with Howard still on the roster after the 2pm Central time deadline (Twitter link), which suggests Houston will bring its asking price in line with the market.

Salary concerns complicate any Howard trade. He’s making more than $22.359MM this season, but a 15% trade kicker in Howard’s contract means teams would have to match salaries based on a $22,970,500 figure for him. The Rockets are also less than $1MM shy of a hard cap of $88.74MM, so they have sharply limited flexibility. The Rockets and others expect Howard to turn down his more than $23.282MM player option and hit free agency this summer.

Mavs Make Long Shot Run At Ben McLemore

February 18th, 2016 at 1:39pm CST by Chuck Myron

1:39pm: The Mavs took several calls regarding McLemore, but are not expected to pull the trigger on a deal involving the shooting guard, Sam Amick of USA Today Sports tweets.

1:28pm: The Mavericks are making a late push for Ben McLemore, reports Chris Haynes of the Northeast Ohio Media Group and the Cleveland Plain Dealer (Twitter link). Haynes calls the Mavs a darkhorse candidate for the shooting guard. The Kings are reportedly “desperate” to move McLemore with the Bulls, Timberwolves and Cavaliers also in the hunt.

Haynes’ report comes after Mavs GM Donnie Nelson told reporters that Dallas will not be making any moves today. The Mavs reportedly called the Nets about Thaddeus Young, and considering they were unable to strike a deal it is conceivable that they are looking elsewhere.

McLemore, the seventh overall pick from 2013, is making almost $3.157MM in year three of his four-year rookie scale contract. McLemore is averaging 7.7 points per game this year, a figure that is down from his 12.1 points per game last season.

Clippers, Magic Discuss Channing Frye Trade

February 18th, 2016 at 11:34am CST by Eddie Scarito

11:34pm: The Clippers have yet to commit to any deal on this front, as Wojnarowski hears, and they’re expected to stand pat and sign a D-League big man instead, according to Vertical colleague Marc J. Spears (Twitter links). That gives the Cavs a strong chance to swoop in and nab Frye, Wojnarowski says.

WEDNESDAY, 8:15am: The Magic would move Stephenson elsewhere if they acquire him, sources tell TNT’s David Aldridge. That suggests the team would trade him rather than waive him.

7:37pm: The Clippers are discussing a bigger deal involving Stephenson’s contract, which has placed talks with Orlando temporarily on hold, Wojnarowski reports (Twitter links). Stephenson would be waived if acquired by the Magic, the scribe notes.

7:21pm: The Clippers would send Lance Stephenson, C.J. Wilcox and possibly a second-rounder to Orlando in return, Wojnarowski relays (Twitter links). Los Angeles is also engaged in talks with another team regarding Stephenson, which puts any trade with Orlando on hold temporarily, the Vertical scribe adds. There are also a number of teams interested in Frye, including the Cavaliers, Wojnarowski also notes (Twitter link).

TUESDAY, 7:16pm: The Clippers and Magic are closing in on agreement that would send power forward Channing Frye to Los Angeles, Adrian Wojnarowski of The Vertical on Yahoo Sports reports (Twitter link). It is unclear who or what would be heading to Orlando in return for the veteran stretch-four.

The Magic have been trying to trade Frye, according to an earlier report from Marc Stein of ESPN.com, who suggested the effort to find a taker for the 32-year-old would accelerate now that the team has traded Tobias Harris, Frye’s cousin, to the Pistons for Ersan Ilyasova and Brandon Jennings. Frye is making more than $8.193MM this season, with about $7.8MM coming next season and $7.4MM in 2017/18, the final year of his deal.

The 32-year-old has disappointed since Orlando signed him to a four year deal during the summer of 2014. He has appeared in 44 games this season, including 29 as a starter, and is averaging just 5.2 points and 3.2 rebounds in 17.1 minutes per night. His career averages are 9.3 points, 4.9 rebounds and 1.0 assist, and Frye owns a career slash line of .438/.387/.820.

Kings Interested In Iman Shumpert

February 18th, 2016 at 10:27am CST by Chuck Myron

10:27am: The would-be deal to send Shumpert to Sacramento is losing steam, Jones hears (on Twitter).

8:20am: The Kings would like to trade with the Cavaliers for Iman Shumpert, reports Jason Jones of The Sacramento Bee, who indicates that the teams are working off of a proposal that would have Ben McLemore and Kosta Koufos going to Cleveland and Timofey Mozgov joining Shumpert on the Kings. Shumpert was unlikely to be traded as of late Wednesday, as Jason Lloyd of the Akron Beacon Journal reported, but McLemore and Koufos are reportedly of interest to the Cavs. Cleveland has apparently explored trading Mozgov but met with rejection on that front from Sacramento.

McLemore and Koufos are also part of a deal the Kings are apparently discussing with Chicago involving Pau Gasol. Both Sacramento and Cleveland are working on multiple fronts, and its unclear how much of a priority either side is making the other. The Kings-Cavs proposal would be a money-saver for Cleveland, since Shumpert’s salary of almost $8.989MM and Mozgov’s $4.95MM pay totals about $3.1MM more than the combined salaries of Koufos ($7.7MM) and McLemore (close to $3.157MM).

The Cavs would save many times that amount in projected luxury tax penalties. However, it would be a wash in terms of long-term salary commitments, since Mozgov is the only one on an expiring deal. Shumpert is fresh off signing a four-year, $40MM deal in the offseason, at about the same time Koufos landed a four-year, $32.879MM contract with Sacramento. McLemore is in year three of a four-year rookie scale contract and the Kings are reportedly “desperate” to find him a new home as they work with his camp to find a trade partner.

And-Ones: Johnson, Celtics, Pelicans, Lee

February 18th, 2016 at 12:00am CST by Arthur Hill

The Cavaliers think would-be post-buyout target Joe Johnson wants to stay in Brooklyn and that he’ll seek to sign an extension with the Nets, a source told Dave McMenamin of ESPN.com. People around Johnson say he won’t take a buyout, tweets Steve Kyler of Basketball Insiders.

There’s more from around the basketball world as the trade deadline approaches:

The Celtics are willing to trade the unprotected 2016 first-round pick they have coming their way from the Nets if it would shake Blake Griffin loose from the Clippers, sources tell Steve Bulpett of the Boston Herald. However, Boston wouldn’t deal the pick for either Kevin Love or Al Horford, Bulpett hears.
The Pelicans shopped Eric Gordon and Omer Asik, but they haven’t found much interest, sources tell John Reid of The Times Picayune. New Orleans reportedly offered Gordon and Alonzo Gee to the Kings for Rudy Gay earlier this season, and the Pelicans apparently had talks with the Cavs that involved Asik after making him available in December.
The Grizzlies shipped $542,714 cash to the Hornets as part of the Courtney Lee trade, Eric Pincus of Basketball Insiders reveals.
Jameer Nelson is running out of alternatives to season-ending surgery on a severely sprained left wrist, but he’ll continue to try to play for the time being after receiving an injection meant to ease the pain he’s feeling, as Christopher Dempsey of The Denver Post details. He missed the Nuggets‘ last six games before the All-Star break.
The Bulls were interested in Trevor Ariza and Corey Brewer earlier this season, but the Rockets rebuffed their entreaties, reports Vincent Goodwill of CSNChicago.com (Twitter link).
The Pistons would love to make one more move before the trade deadline, GM Jeff Bower said today in an appearance on WDFN-AM radio, notes Rod Beard of The Detroit News (Twitter link). The team is reportedly scanning the market for veteran guards, but Bower said the Pistons are looking at the options available at every position and added that coach/executive Stan Van Gundy has confidence in Steve Blake as the team’s backup point guard, Beard also relays (on Twitter).
The Grizzlies recalled James Ennis from the team’s D-League affiliate in Iowa, the team announced today. Ennis has appeared in 15 games with the Energy, averaging 16.7 points, 5.7 rebounds and 2.6 assists per night. He has played in 10 games for Memphis, averaging 1.3 points in 3.6 minutes.

Chuck Myron contributed to this post.

Atlantic Notes: Teague, Schröder, Embiid, Knicks

February 17th, 2016 at 11:37pm CST by Arthur Hill

The Sixers may plan a last-second attempt to acquire Jeff Teague or Dennis Schröder from the Hawks, according to Keith Pompey of The Philadelphia Inquirer. A source told Pompey that Philadelphia front office could make an “11th-hour” call to the Hawks on Thursday to remind them of the Sixers’ interest. Pompey cautions that it will probably take Jahlil Okafor or Nerlens Noel to get either of the point guards, and Philly’s front office would rather keep both until it knows the status of 2014 draftee Joel Embiid, who has yet to play an NBA game. However, a report emerged tonight that the Sixers are “gauging interest” in Okafor. “I think you always have to be aware of what the market is for acquiring something or considering a trade,” said chairman of basketball operations Jerry Colangelo. “But we are not actively looking to do deals.”

There’s more from the Atlantic Division:

Embiid has traveled to Qatar for “a kick-start to the next phase” of his rehab process, according to Tom Moore of Calkins Media. He is working on his surgically repaired foot with doctors at Aspetar, which calls itself “the world’s leading specialized orthopedic and sports medicine hospital.” Embiid’s visit will include evaluation, consultation and meetings with specialists.
Knicks rookie Kristaps Porzingis was happy to be called “untouchable” in trade talks by team president Phil Jackson, tweets Ian Begley of ESPNNewYork. Porzingis said he would like to remain in New York for his entire career.
Interim coach Kurt Rambis said the Knicks front office hasn’t asked his opinion on any possible deals Begley also relays (Twitter link).
The Nets won’t rush to make a deal before the deadline, owner Mikhail Prokhorov said, as NetsDaily notes. “If we have some small, good pieces, maybe we can do something,” Prokhorov said. “But we are [being] very passive because we’re not in a hurry. We have a long-term vision.”
The Rockets asked for Jonas Valanciunas when they unsuccessfully approached the Raptors about a Dwight Howard trade, according to Sportsnet’s Michael Grange. Such a deal would have required Toronto to relinquish much more to make the salaries match.
The Celtics would give up more for Kevin Love than they would for Al Horford, but the Cavs and Hawks are expected to continue to demand more than Boston is willing to relinquish for either, writes Steve Bulpett of the Boston Herald.

Chuck Myron contributed to this post.

Cavaliers Interested In Ryan Anderson

February 17th, 2016 at 10:27pm CST by Arthur Hill

10:27pm: The Wizards have talked with the Pelicans about acquiring Anderson, but prefer to pursue Kevin Durant rather than pay Anderson in free agency, according to Adrian Wojnarowski of The Vertical on Yahoo Sports. Anderson is expected to attract a salary starting at $16MM-$18MM when he hits the market this summer, and Washington would rather chase Durant without having to worry about Anderson.

Wojnarowski also reports that the Pistons and Pelicans had “serious talks” about Anderson before Detroit opted to trade for Tobias Harris on Tuesday. Detroit was interested in a larger deal with the Magic that included Evan Fournier, but Orlando wanted to keep him.

3:39pm: The Cavaliers are talking to the Pelicans about power forward Ryan Anderson, tweets Frank Isola of The New York Daily News. He adds that a three-team deal that includes Kevin Love is still possible. Cleveland has “strong interest” in acquiring Anderson, tweets Marc J. Spears of Yahoo Sports.

The Pelicans are motivated to move Anderson because they aren’t sure if they can keep him once he enters free agency this summer. New Orleans expects Anderson to receive an offer with a starting salary in the neighborhood of $16MM-$18MM. The Heat, Kings, Wizards and Pistons are among the teams rumored to have interest in Anderson, although Detroit may have pulled out after Tuesday’s trade for Tobias Harris.

If Love is included in a deal, it will end a tumultuous season and a half with the Cavaliers. After being acquired from Minnesota in a 2014 trade, Love was supposed to be part of a new Big Three in Cleveland, but the fit was never as smooth as expected. He posted scoring and rebounding totals that were far behind his numbers with the Wolves.

Anderson, an eight-year veteran stretch forward, is averaging 16.7 points and 5.9 rebounds in 51 games with New Orleans. His salary is $8.5MM this season, while Love is making $19.5MM in the second season of a five-year max deal, so if they’re both involved in the same trade, some work will need to be done to match salaries.

Cavs Expected To Keep Love, Shumpert, Varejao

February 17th, 2016 at 9:53pm CST by Arthur Hill

Despite a flurry of last-minute trade rumors, the most likely outcome is that Kevin Love, Iman Shumpert and Anderson Varejao all stay with Cleveland past the deadline, according to Jason Lloyd of The Akron Beacon Journal. Lloyd adds that a minor deal is possible to improve the back end of the Cavs’ rotation.

That would be a blow to the Celtics’ dreams of adding Love in a rumored three-way deal with the Pelicans. It would also mean that Varejao isn’t headed to Orlando in exchange for Channing Frye, perhaps clearing the way for the Magic to ship Frye to the Clippers.

Lloyd writes that the Cavaliers want to take another shot at winning a title with Love and are reluctant to give up Shumpert, who is the team’s best perimeter defender. They have been trying for most of the season to find a taker for Varejao, who still has two years and nearly $19MM in guaranteed money remaining on his contract, but have been turned down repeatedly.

Lloyd confirms Cleveland’s interest in Frye, who spent time with Cavs GM David Griffin in Phoenix, but the writer believes other teams can put together better offers. The Cavaliers also have payroll concerns, already facing about $170MM in salary and luxury tax penalties.