The Cleveland Cavaliers announced Thursday the team has traded Anderson Varejao to the Portland Trail Blazers and acquired Channing Frye.
NY Daily News' Frank Isola and USA TODAY's Sam Amick were the first to report the news.
Frye is owed $8.2m this year; $7.8m next year; $7.4m year after that. Varejao owed $9.7m this year; $9.3 next year.
— Dave McMenamin (@mcten) February 18, 2016
Cleveland gets tax savings and acquire a 6-11 guy with a 38.7 pct career mark from 3 in Frye, but part ways with a fan favorite in Varejao
— Dave McMenamin (@mcten) February 18, 2016
Further details on Frye/Varejao deal per source: Cunningham from CLE to ORL; Cavs send conditional 1st to POR & 2nd Rd pick from POR to ORL
— Dave McMenamin (@mcten) February 18, 2016
The Varejao/Cunningham-Frye deal will save the Cavs more than $10 million in salary and taxes this season, source tells ESPN
— Dave McMenamin (@mcten) February 18, 2016
The Cavs reported a protected future first round draft pick was also traded to the Portland Trail Blazers in exchange for a second round pick. Second round pick and guard Jared Cunningham was traded to the Orlando Magic in exchange for Frye.
“Anderson is a special player, teammate and person,” said Cavaliers General Manager David Griffin. “Few players have earned the respect, support and admiration of an entire organization, fan base and community as Andy did here. Those are all things that made this a difficult deal to do. At the same time, we have a deep obligation to do whatever we can to reach our ultimate goal and we believe this was a deal that improves our team now and positions us better in the future as well. We thank Andy for his hard work, dedication and contributions to the Cavaliers and our community and wish him and his wife, Marcelle, the very, very best.”
During his tenth season with the NBA, Frye appeared in 44 games for the Orlando Magic, averaging 5.2 points and 3.2 rebounds, according to the Cavs. He is also shooting .97 from the three-point line and .905 from the foul line. Over his career, the forward played in 701 games with New York, Portland, Phoenix, and Orlando.
The Cavs said Varejo spent his enter 12-year NBA career with their team. Among franchise leaders, he ranked third in offensive rebounds, fifth in defensive rebounds, fifth in total rebounds, seventh in games played, tied seventh in blocks, and eighth in steals. He appeared in 31 games in the 2015-2016 NBA season.
Cunningham, who signed on as a free agent after the 2015 Cavs training camp, appeared in 40 games for the Cavs this season.
