The Portland Trail Blazers have traded guard Allen Crabbe to the Brooklyn Nets for forward Andrew Nicholson, the teams announced.
ESPN’s Adrian Wojnarowski first reported the news.
Wojnarowski reports the Blazers will then waive Nicholson and use the stretch provision on his contract. The deal provides serious cap relief for the Blazers, clearing over $16 million in total and also relieving them of heavy luxury tax penalties. Crabbe will reportedly waive his trade kicker, as well.
Crabbe, 25, originally signed his $75 million contract as an offer sheet with the Nets last summer. The Blazers matched the offer and retained Crabbe on their way to one of the highest payrolls in the league. The Nets had to wait an entire year before they could re-acquire Crabbe, per league rules.
The move creates potential financial flexibility for Portland, who have been rumored in trade talks involving the Knicks’ Carmelo Anthony in recent weeks.
Crabbe averaged 10.7 points and shot 46.8% from the field and 44.4% from three last season for the Blazers, in 28.5 minutes per game.