Cavs' exceptions expire; still seeking trades
The Cavaliers allowed $5.4 million in trade exceptions to expire Monday night when they could not find a suitable trade partner.
One of the exceptions was worth $4.4 and was obtained last season in the trade of popular big man Anderson Varejao to Portland. Another was worth just less than $1 million and obtained when the Cavs shipped guard Jared Cunningham to Orlando.
League sources told Amico Hoops that Portland, New York and Orlando were among the teams the Cavs spoke to about the exceptions, but could not find a deal that fit. The exceptions expired Monday at 11:59 p.m.
Varejao was waived by Golden State earlier this season and is eligible to return to the Cavs in free agency.
Both parties are said to be open to such a deal, but a team source said the Cavs are "aggressively" exploring the trade market before Thursday's deadline, and that any free agency signings aren't likely to take place until after the deadline passes. They continue to focus on a playmaker and another big man.
As ESPN reported, the Cavs still hold a trade exception "of similar value to Varejao's exception" created via the Mike Dunleavy-for-Kyle Korver deal.
The Cavs (39-16) return to action Thursday at home vs. the Knicks.