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Dion Waiters traded to Thunder in 3-team deal involving J.R. Smith, Iman Shumpert

The Thunder will take a chance on Waiters, while the Cavaliers fortify their wing rotation with Knicks guards Iman Shumpert and J.R. Smith.

Ron Schwane-USA TODAY Sports
Ricky O'Donnell
Ricky O'Donnell has covered basketball at all levels for more than a decade at SB Nation. He’s currently the Associate Director of Programming.

The Cleveland Cavaliers have agreed to send guard Dion Waiters to the Oklahoma City Thunder as part of a three-team trade that will bring Knicks guard Iman Shumpert to Cleveland, according to Adrian Wojnarowski of Yahoo! Sports. As part of the trade, Cleveland will also take back J.R. Smith from the New York Knicks.

The complete trade will send Smith, Shumpert and a protected Thunder first-round pick to Cleveland; Waiters to Oklahoma City; and Lance Thomas, Alex Kirk, Lou Amundson and a Cavs 2019 second-round pick to New York, per multiple reports. The Knicks will also get significant cap relief and waive center Samuel Dalembert to create enough roster space. Earlier rumors suggested ace Thunder sixth man Reggie Jackson might be in the deal, but those proved to be unfounded.

The Knicks also waived Samuel Dalembert to facilitate the move.

The 23-year-old Waiters was the No. 4 pick in the 2012 NBA Draft out of Syracuse. He earned a reputation as an explosive scorer in his first two seasons, but there were reports that he clashed with star guard Kyrie Irving. Last season, Waiters averaged 15.9 points per game on 43.3 percent shooting, but has seemed to be lost in the mix with LeBron James and Kevin Love for most of this season. The Thunder are gambling on his talent shining through after a change of scenery.

In Shumpert, Cleveland acquires the perimeter defender it badly needs. The 24-year-old Shumpert is averaging 9.3 points per game this season. At 6’5, 220 pounds, he has the size and athleticism to serve as a stopper for the Cavs. Shumpert will be a restricted free agent after this season and is currently out with a shoulder injury.

The Knicks likely dealt Smith because he has a player option for $6.3 million next season. Smith was the NBA’s Sixth Man of the Year in 2012-13 when New York won 54 regular season games, but as the Knicks have struggled the last two seasons, so has Smith. This season, he’s averaging 10.9 points per game on 40.2 percent shooting.

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