The amount of cash that the Cleveland Cavaliers are sending the Charlotte Hornets in the Dennis Schroder trade has been revealed.
On Friday, it was revealed that the Cavaliers were trading their veteran backup point guard, Schroder, to the Hornets for fellow backup guard Tre Mann.
In addition to sending Schroder to Charlotte, the Cavaliers also included cash in the trade. Now, we know how much money Cleveland sent Charlotte to help facilitate the deal.
Cavaliers Sending Cash to Hornets
According to Chris Fedor of Cleveland.com, the Cavaliers are sending $4 million to the Hornets as part of the Schroder-for-Mann swap.
Schroder makes more money than Mann, as the veteran is due $14.8 million for this coming season, while Mann makes just $8 million. For a Cleveland team that is trying to stay below the salary-cap aprons, it made financial sense to make this deal, even though going from Schroder to Mann is a downgrade in terms of talent and experience in the backcourt.
In addition to Schroder’s guaranteed salary for this coming season, he also has a second year for $15.5 million for the following season. That money is only partially guaranteed, however, for $4.35 million, nearly the same amount of money that Cleveland sent Charlotte in this trade.
Therefore, it’s fair to say that the cash Cleveland sent Charlotte in this deal will basically pay for the team to give Schroder his partial guarantee in the final year of his deal, at which point the team can waive the rest of his contract with no other financial hit other than the $4.35 million owed. Since Charlotte will be under the luxury tax next season, that money doesn’t affect them as much as it would with Cleveland, which is surely going to be a taxpayer again.
Cleveland Didn’t Want to Trade Draft Capital
According to Fedor, the Cavaliers had been speaking to teams about Schroder ever since the NBA Draft in June, but they did not want to trade draft capital to get off his money.
“Since around the time of the NBA Draft, the Cavs have held numerous discussions with teams about Schröder. In many of those trade frameworks, opposing executives were asking Cleveland to include draft capital as incentive for taking on Schröder’s bulky salary. Sources say multiple teams asked for a future first-rounder. The Cavs balked at that price, exploring other avenues that allowed them to preserve their limited assets,” Fedor wrote.
In the end, the Cavaliers found a taker in Charlotte, who wanted to bring Schroder in to help bolster their team’s backcourt depth, one that lost former All-Star LaMelo Ball in an offseason blockbuster trade with the Minnesota Timberwolves.
Though Schroder became a salary cap casualty in Cleveland, he is still a very solid player who can provide plenty of leadership, experience, and scoring punch off the bench for the Hornets, who are looking to snap a decade-long playoff drought this coming season after making it to the Play-In Tournament this past year and looking like a team that is on the rise.
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