Cavs News: Cavs Trade Dion Waiters to Thunder, Receive Knicks’ JR Smith and Iman Shumpert

It was announced today during the Cleveland Cavaliers vs. Philadelphia 76ers game that the Cavs have been involved in a three-way trade, which includes the New York Knicks and Oklahoma City Thunder.

Essentially, the Cavaliers are to acquire shooting guard J.R. Smith and small forward Iman Shumpert of the Knicks, while several players with non-guaranteed contracts — including of Lance Thomas of the Thunder along with Lou Amundson and Alex Kirk of the Cavs — will be sent to the Knicks, in exchange for Dion Waiters, who will be sent to the Thunder.

Framework of trade being discussed is Dion Waiters to OKC, JR Smith to Cleveland and Reggie Jackson to Knicks, sources told ESPN

— Brian Windhorst (@WindhorstESPN) January 6, 2015

Report: Cavs trade Dion Waiters to Thunder, get Knicks’ JR Smith and Iman Shumpert http://t.co/0B3kacpKTy

— Kurt Helin (@basketballtalk) January 6, 2015

In addition, the Thunder will be sending a protected future first-round pick to the Cavs, while the Cavs will be sending their 2019 second-round pick to the Knicks. The Cavs will receive the first-round pick only if its falls outside the top 18 this year or if it falls outside the top 15 in 2016 or 2017.

The trade works out perfectly for the Cavaliers, who are currently in need of a legitimate perimeter defender in Shumpert and a catch-and-shoot type player in Smith.

Smith is averaging 10.9 points on 40 percent shooting on the season, while Shumpert is averaging 9.3 points, 3.4 rebounds, and 3.3 assists on the year.

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