Cleveland, OH, United States (4E Sports) – In a move that will create more salary-cap space in their pursuit of LeBron James, the Cleveland Cavaliers are expected to trade point guard Jarrett Jack to the Brooklyn Nets as part of a three-team transaction.
The Nets have agreed to take on the contracts of Jack and youngster Sergey Karasev from the Cavaliers while the Boston Celtics will acquire Brooklyn’s Marcus Thornton, Cleveland’s Tyler Zeller and a protected 2016 first-round pick from the Cavaliers.
The trade can’t be officially consummated until Thursday, when a league-wide moratorium on signings and trades is lifted at 12:01 a.m.
“I’m very, very excited. Obviously, playing in New York is a compliment in and of itself,” Jack said. “The opportunity to play at the Barclays every night, I couldn’t be happier.”
Cleveland will take back the draft rights to Ilkan Karaman and Edin Bavcic from the Nets to complete the transaction. The moves will give the Cavaliers significant financial flexibility by shedding the contracts of Jack, Zeller and Karasev.
With the trade, the Cavaliers now have $21.7 million in cap space.
The Cavaliers are also eyeing free-agent guard Ray Allen or forward Mike Miller to further entice James to return to Cleveland.