The Cleveland Cavaliers trade newly acquired Keith Bogans and a future second-round pick to the Philadelphia 76ers to create a $5.3 million trade exception, according to Marc Stein of ESPN.
Cleveland acquired Bogans from the Boston Celtics a couple of days ago while giving up Erik Murphy, Dwight Powell, John Lucas, Malcolm Thomas, and a couple of second-round draft picks. Many expected the Cavs to use Bogans in another trade to create cap room.
Bogans has a $5.3 million non-guaranteed contract in which the Sixers will surely waive in the near future. The most important piece in this trade for Philadelphia is the second-round pick. The rebuilding Sixers want to stockpile on draft picks.
With the added cap space, the Cavaliers may possibly have another move in mind. Ray Allen may be one player they are still looking at closely and are hoping to sign him, if the 39-year-old decides to return for a 19th season. However, the trade exception and Brendan Haywood's $10.5 million non-guaranteed contract are huge trading chips for Cleveland.
The Cavaliers currently have 15 players on their roster, including three non-guaranteed contracts. Therefore, a future move is to be expected to fill in the rest of their roster.