Update: The trade was officially executed Saturday morning.
The Hawks and Cavaliers have completed a trade that will bring Richard Jefferson and Kay Felder to Atlanta along with two future second-round draft picks and cash. The Hawks soon will waive Jefferson and Felder.
The draft pick in 2019 will be the lesser of the Lakers and Timberwolves selections. The 2020 pick is a protected pick from Portland.
The Cavs will receive the draft rights to European prospects Dimitrios Agravanis and Sergiy Gladyr.
Basically, the Cavaliers were looking to dump salary to reduce their luxury-tax bill and the Hawks accommodated them for the price of the draft picks plus cash.
Jefferson is set to make $2.5 million this season with $2.6 million non-guaranteed for 2018-19. Felder, who was a second-round draft pick for the Hawks in 2016, is guaranteed 50 percent of his $1.3 million salary for 2017-18.
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