The Cleveland Cavaliers have reportedly agreed to trade guard Kyle Korver to the Utah Jazz.
News of the deal broke on Wednesday night, with NBA insider Adrian Wojnarowski reporting that the Cavs will receive guard Alec Burks plus two future second-round draft picks in exchange for Korver.
The NBA's official website has also published a report on the trade.
"The Cleveland Cavaliers have agreed to trade Korver, one of the best deep outside shooters in NBA history, to the Utah Jazz, a person familiar with the deal told The Associated Press on Wednesday. In exchange for Korver, the Cavs will get guard Alec Burks -- and his expiring contract -- along with two future second-round draft picks, according to the person who spoke on condition of anonymity because the swap has to be approved by the NBA. The trade might not become official until Thursday.
"For Korver, Cleveland will get Utah's 2020 second-round selection along with Washington's 2021 second-rounder. The Cavs also receive an asset in Burks' expiring contract worth $11.2 million, something they might be able to use in another deal."
Korver, 37, was one of the most sought-after players on the market this season. Cleveland made him available, along with another veteran guard in J.R. Smith, and they have reportedly granted his wish by trading him to a contender.
This will also be Korver's second stint with the Jazz as he played there from 2007 to 2010.
Cleveland has traded Kyle Korver to Utah, league sources tell ESPN.— Adrian Wojnarowski (@wojespn) November 28, 2018
Meanwhile, the Cavs have picked up Burks' expiring contract of $11.53 million, something which could give them some bargaining power ahead of the trade deadline in February.
Korver's contract has a $7.56 million cap hit this term and $7.5 million for the following campaign. He will earn a guaranteed $3.44 million next season but will rake in the full amount if he isn't waived by July 7.
What This Means
The Cavs are now in investment mode, looking to build for the future. And this happens to be a positive deal for them, especially as they no longer wanted Korver on their roster.
Utah will also benefit as they will have a player come in who can spread the floor and knock shots down from long range consistently. As mentioned above, Korver was a target for several teams, so the Jazz should be feeling pretty good after snagging a deal for the vet.