re: Dion Waiters to OKC. JR Smith to Cleveland

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The Cleveland Cavaliers have reached an agreement in principle to acquire New York Knicks guards J.R. Smith and Iman Shumpert in a multi-team trade that also sends guard Dion Waiters to the Oklahoma City Thunder, league sources told Yahoo Sports.

Oklahoma City will give the Cavaliers a protected future first-round draft pick and send guard Lance Thomas to the Knicks, league sources said. As part of the trade, the Cavaliers will send rookie center Alex Kirk, forward Lou Amundson and a 2019 second-round pick to the Knicks, sources said.

For New York, the deal is a salary dump to clear cap space. The Knicks unload the $6.4 million owed to Smith next season.

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