The Cavaliers still managed to benefit from Dwyane Wade changing teams.
The Cavs didn’t get Wade, but they were nearing a deal to receive small forward Mike Dunleavy late Wednesday night from the Chicago Bulls, according to a league source with knowledge of the trade talks. Dunleavy, who turns 36 before next season, averaged 7.2 points and shot 39 percent from 3-point range last season.
The Cavs are not expected to send or receive any draft picks as part of the deal. The only other parts to the deal are rights to overseas players, one league source with knowledge of the trade discussions said.
The Bulls needed to clear Dunleavy’s $4.8 million salary in order to make room to sign Wade, who informed the Miami Heat late Wednesday he would not be returning. The Cavs only had a taxpayer’s midlevel exception worth $3.47 million to offer Wade.
The 6-foot-9 Dunleavy has been a Cavs target for years. They tried signing him in free agency three years ago, but he chose the Bulls instead. He is a career 38 percent 3-point shooter who was limited to 31 games last season because of back surgery last summer.
Dunleavy was a starter for his three years in Chicago, but will likely come off the bench for the Cavs. They have no cap space to sign players, but they will use part of the $9.6 million trade exception created by dealing Anderson Varejao last season to obtain Dunleavy.
The Cavs have at least two open roster spots after losing Timofey Mozgov and Matthew Dellavedova in free agency. Mozgov will sign with the Los Angeles Lakers when the league’s moratorium ends and the team does not plan on matching the offer Dellavedova received from the Milwaukee Bucks.
It’s unclear yet how Dunleavy’s addition impacts free agent Richard Jefferson, who is reportedly open to playing another season after declaring his retirement in the locker room following the Cavs’ championship. The Cavs are still hopeful they can re-sign free agent guard J.R. Smith as well.
Jason Lloyd can be reached at jlloyd@thebeaconjournal.com. Read the Cavs blog at www.ohio.com/cavs. Follow him on Twitter www.twitter.com/JasonLloydABJ.