Report: Cavaliers trade for Channing Frye from Orlando in three-team deal with Magic, Blazers

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The Cleveland Cavaliers wanted more shooting, wanted more depth along the front line.

They have reportedly gotten a little more of both in the form of Channing Frye — but it came at the price of long-time Cavalier Anderson Varejao, who is headed to Portland in a three-team trade. Sam Amick of the USA Today broke the news and had some of the details.

Here’s how it shakes out.

The Cavaliers get Frye, who was only averaging 5.2 points per game in Orlando but is shooting 39.7 percent from three and could give Cleveland more floor spacing shooting and options for Tyronn Lue with smaller lineups. Frye is a solid veteran who is an okay defender (when focused), but he doesn’t spend time in the paint. The Cavaliers targeted him. But it’s an emotional loss to have to send out Varejao and Frye two seasons and $15.3 million on his contract after this one.

Portland will get Varejao, but multiple reports have him being waived instantly. Varejao gets a $1.7 million trade kicker, but the Blazers will stretch Varejao’s money owed ($7.4 million next season) over five seasons so not to take the big cap hit. Portland gets and 2018 first round pick from the Cavaliers for taking on that contract.

Under NBA rules, Varejao cannot re-sign with Cleveland this season.

The Magic will waive Jared Cunningham and with all this save money — they get a second round pick and could have more than $40 million in cap space this summer.