The Cleveland Cavaliers completed a sign-and-trade for guard Matthew Dellavedova, acquiring the rights to Milwaukee Bucks forward Albert Miralles.
The trade, which also includes cash considerations for the Bucks, creates a $4.8 million trade exception for the Cavaliers, according to an announcement from the Cavaliers.
Cavs General Manager David Griffin, who announced the trade Thursday from Cleveland Clinic Courts, wished "Delly" the best in his career.
“Delly is a special person on and off the court and was a very dedicated, hard worker that grew as part of our team and made significant contributions to our success," Griffin said. "Our coaches and his teammates will always appreciate his 'all in' approach to the game, as he was ready to contribute whenever his number was called. We know he will continue to grow and succeed as he takes the next steps of his NBA journey with the Bucks.”
The trade comes shortly after Dellavedova, a restricted free agent, agreed to a four-year offer sheet worth $38.4 million from the Bucks.
The deal between Dellavedova and the Bucks was struck July 1, when the free agent period officially opened. The Cavaliers had three days to match the offer, but that did not appear likely. At the time, the teams discussed the possibility of a sign-and-trade, which they announced on Thursday, the first day free agents could sign deals.
Dellavedova, who is 6-foot-4, became a fan favorite and cult hero during last year's playoff run with the Cavs. Shortly after the trade was announced, Delly penned a letter to Cavaliers fans.
— Matthew Dellavedova (@matthewdelly) July 7, 2016
Miralles, a 6-foot-9, 240 forward, has spent his entire professional career playing overseas, mostly in Spain. Most recently, he has competed for FIATC Joventut, a Spanish professional basketball club based in Badalona, Spain, since 2013. He was originally drafted by Toronto with as the 39th overall pick of the 2004 NBA Draft.