The center, who hasn't played since Feb. 12 as the Cavs sought trade partners for him before the trade deadline, was bought out of his contract on Friday, per Shams Charania of The Athletic and Stadium.
Cleveland wasn't as active as expected at the deadline, sending JaVale McGee to the Denver Nuggets in exchange for Isaiah Hartenstein and a pair of future second-round picks. But it was unable to find a trade partner for Drummond.
The 27-year-old averaged 17.5 points and 12.9 rebounds through 33 games over a season-plus in Cleveland.
It wasn't necessarily his on-court performance that had teams shying away at the deadline; rather it was his major contract. He was due $28.75 million this season, the final year before he hits free agency.
As for the Cavaliers, they're left with Jarrett Allen at center, who will be a restricted free agent after this season.
The 22-year-old's presence was part of what motivated the team to bench Drummond, as the Cavaliers viewed him as "the franchise's long-term starting center," according to ESPN's Adrian Wojnarowski and Brian Windhorst.
Jake Fischer of Bleacher Report reported at the trade deadline that the Los Angeles Lakers and New York Knicks were the leaders for Drummond. Chris Haynes of Yahoo Sports noted the Los Angeles Clippers, Boston Celtics, and Charlotte Hornets were in the mix as well, while Windhorst reported the Miami Heat would also be a factor.