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On draft night, it was reported that the Hornets dealt Brendan Haywood and their draft pick Dwight Powell, a 6'11" power forward from Stanford, to the Cleveland Cavaliers for Alonzo Gee.
The move was an interesting one for both sides. Charlotte got a cash dump, ridding guaranteed salary numbering over $2 million in Haywood's contract for Gee's fully unguaranteed $3 million deal expiring after this season. The Cavs didn't get a serviceable center in Haywood, who missed all of last season, but he has a weird kicker to his contract: an unguaranteed final year worth $10.5 million, which could be a good asset for a trade dump.
But the deal was never finalized as such, as Marc Stein reports.
According to Stein, the trade will not include Gee to Charlotte.
Sources say Cavs in midst of making moves to create extra cap space to give LeBron his max and close to dealing Alonzo Gee to New Orleans
— Marc Stein (@ESPNSteinLine) July 11, 2014
For those asking: I'm told Alonzo Gee will indeed wind up in New Orleans and Brendan Haywood deal with Charlotte is a separate deal for Cavs
— Marc Stein (@ESPNSteinLine) July 11, 2014
However, it remains to be seen what the Hornets will receive for Haywood and Powell. Until it is completed, Haywood's $2.2 million remains on their team salary books.