In a cap-clearing move to make room for a potential LeBron James max contract, Cleveland has reportedly agreed to trade Jarrett Jack to the Brooklyn Nets in a three-team deal with the Boston Celtics. Per ESPN:
The Cleveland Cavaliers will trade Jarrett Jack to the Brooklyn Nets on Thursday as part of a three-team deal with Boston to create more salary-cap space for the pursuit of LeBron James, according to sources close to the process.
Trade can't be completed until Thursday, but Cavs on brink of shedding contracts of Jarrett Jack, Tyler Zeller & Sergey Karasev in this deal
— Marc Stein (@ESPNSteinLine) July 9, 2014
Cavs will obviously have to take back future second-rounder of some sort to seal deal but Cleveland obviously doing this solely for space
— Marc Stein (@ESPNSteinLine) July 9, 2014