Hornets and Celtics complete sign-and-trade for Gordon Hayward

After many days of negotiations, the Hornets and Celtics have finally agreed to terms on a sign-and-trade that lands Gordon Hayward in Charlotte.

Earlier in the day, the Hornets waived Nicolas Batum to clear the required cap space to complete the Hayward sign-and-trade. He will be signing with the Los Angeles Clippers when he clears waivers. Good luck, Nic.

The pick the Hornets sent to the Celtics is probably so heavily protected that it will never convey, but it’s against NBA rules to “trade” for a player without actually giving up an asset. Essentially, the Hornets got 2023 and 2024 second-round picks for waiving Batum and signing Hayward, which they were going to do anyway. Boston creates a Traded Player Exception worth about $27.9M, per Yahoo! Sports’ Keith Smith. It works out for both sides, and it probably didn’t have to take this long, but oh well. Hayward’s contract will start at $27.9M per year with a five percent yearly raise. The team’s official press release regarding the deal can be found here.

Gordon Hayward is now officially a Charlotte Hornet.

Update: Hayward’s exact cap hit for the duration of his contract has been reported by ESPN’s Bobby Marks.