Here's a breakdown of the Cavaliers-76ers deal:
Cavaliers get: 2015 protected second-round pick
76ers get: guard Keith Bogans
Cleveland Cavaliers: B
Just days after acquiring Bogans from the Boston Celtics, the Cavaliers will send his contract on to Philadelphia. In my grades for the first trade, I expressed excitement about the possibility of Cleveland packaging Bogans' non-guaranteed salary with Brendan Haywood's to acquire an expensive player or players. The Cavaliers have now forfeited that opportunity. While dealing Bogans for no players in return creates a trade exception worth $5.3 million (Bogans' salary) that they will have the next year to use, the exception can't be combined with Haywood's salary. Cleveland also has slightly less purchasing power because the matching rules that allow teams to take in slightly more money in trades than they send out don't apply to exceptions.
There are a couple of reasons the Cavaliers were willing to give up those advantages to Bogans' contract as compared to the trade exception. First, shedding Bogans' 2014-15 salary will likely allow them to stay under the luxury-tax line. While Cleveland would have paid little tax money this season, dodging the tax now means delaying the harsh repeater-tax penalties another year. That could save the Cavaliers well into the eight figures. Second, Cleveland doesn't have to spend a roster spot on Bogans, giving the team more flexibility.
I think there's a case for keeping Bogans to maintain maximum trade flexibility next summer, but I certainly can't criticize the Cavaliers for disagreeing, especially since it's not my money at stake.
Philadelphia 76ers: B
For the second time this summer, the Sixers have used their enormous trove of cap space to create a trade exception for another team. This time, the reward was a 2018 second-round pick from Cleveland. (As for the 2015 second-round pick Philadelphia gave up, it's surely protected such that the Cavaliers will certainly not get it.) Bogans' non-guaranteed contract is of little use to the 76ers, who can use cap space to make imbalanced trades, so expect him to be cut.
That makes Bogans the big loser -- he stood to make $5.3 million this season had he stayed on Cleveland's roster, and he'll be lucky to get the veteran's minimum from another team if he becomes a free agent.
