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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.
Boston has signed and traded Gordon Hayward and two future second-round picks to Charlotte for a conditional future second-round pick. Celtics also receive a trade exception.
— Shams Charania (@ShamsCharania) November 29, 2020
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 Charlotte Hornets are waiving forward Nicolas Batum, sources tell @TheAthleticNBA @Stadium.
— Shams Charania (@ShamsCharania) November 29, 2020
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.
Here’s the Gordon Hayward cap hit in Charlotte:
— Bobby Marks (@BobbyMarks42) November 29, 2020
2020/21 $28.5M
2021/22 $29.9M
2022/23 $30.1M
2023/24 $31.5M