Richard Jefferson, Kay Felder Reportedly Traded from Cavaliers to Hawks

The Cleveland Cavaliers have reportedly agreed to trade swingman Richard Jefferson and point guard Kay Felder to the Atlanta Hawks, according to ESPN.com's Adrian Wojnarowski.

USA Today's Sam Amick added Atlanta will also acquire 2019 and 2020 second-round picks from the Cavaliers, while the Hawks will reportedly ship the draft rights to Dimitrios Agravanis and Sergii Gladyr back to Cleveland. 

According to ESPN.com's Dave McMenamin, the Cavaliers will send $3 million to the Hawks as part of the agreement. 

The Vertical's Shams Charania first reported the two sides were "in advanced talks" on Friday afternoon.

It's a logical move for the Cavaliers, who needed to shed at least one guaranteed contract prior to Tuesday's season opener against the Boston Celtics. Jefferson, 37, is on the hook for $2.5 million this season. 

Beyond the roster implications, the trade has significant financial implications for the defending Eastern Conference champions. According to ESPN.com's Bobby Marks, the deal will save the Cavaliers $12.8 million in luxury tax payments this year. 

As for the Hawks, neither Jefferson nor Felder appears long for Atlanta. 

The Vertical's Chris Mannix reported Jefferson intends to continue his NBA career after he's waived by the Hawks, while Wojnarowski noted Felder is "likely" to be let go. 

While Jefferson is nearing the end of his time in the Association, he proved throughout the 2016-17 campaign that he still has gas left in the tank. 

Appearing in 79 games a season ago, Jefferson averaged 5.7 points and 2.6 rebounds while shooting 44.6 percent from the field and 33.3 percent from three in 20.4 minutes per game. 

Once he clears waivers, Jefferson should be an attractive veteran-minimum addition for title contenders who are searching to fortify their benches with a battle-tested three-and-D contributor.