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CLEVELAND (AP) — Valuable veteran Richard Jefferson has been traded from Cleveland to Atlanta and waived.
The Cavaliers and Hawks finalized their trade on Saturday with Jefferson and guard Kay Felder going to Atlanta with a pair of second-round draft picks and $3 million. Cleveland needed to clear two roster spots and will now save over $12 million in potential luxury-tax penalties.
The teams agreed to terms of the deal on Friday night and got league approval Saturday.
CLEVELAND (AP) — Their roster overloaded, the Cavaliers are trading Richard Jefferson and Kay Felder to save money.
Cleveland has agreed to send Jefferson, Felder, two second-round draft picks and $3 million to the Atlanta Hawks in a move that will allow the Eastern Conference champions to avoid paying $12 million in luxury tax penalties, a person familiar with the deal told The Associated Press on Friday.