Valuable veteran Richard Jefferson has been traded from Cleveland to Atlanta and waived.
The Cavaliers and Hawks finalized their trade on Saturday with Jefferson and guard Kay Felder going to Atlanta with a pair of second-round draft picks and $3 million. Cleveland needed to clear two roster spots and will now save over $12 million in potential luxury-tax penalties.
The teams agreed to terms of the deal on Friday night and got league approval Saturday.
The Cavs, who had to get their roster to 15 before Tuesday's opener, will also acquire the draft rights from Atlanta to forward Dimitrios Agravanis and guard Sergey Gladyr.
Jefferson spent two seasons with...