Cleveland Cavaliers' Dion Waiters (3) brings the ball up against the Minnesota Timberwolves in an NBA basketball game Tuesday, Dec. 23, 2014, in Cleveland.
Mark Duncan—AP
January 6, 2015 1:04 AM EST

Cleveland Cavaliers let go of guard Dion Waiters late Monday, trading him to the Oklahoma City Thunder in a three-team deal that saw the Cavs get J.R. Smith and Iman Shumpert from the New York Knicks.

Cleveland will also get the Thunder’s first-round draft pick for the 2015 season, the Associated Press reports.

The Knicks, meanwhile, received Cavaliers reserves Lou Amundson and Alex Kirk as well as the 2019 second-round pick. Oklahoma City forward Lance Thomas will also move to New York as part of the deal.

Sources told Fox Sports that the Cavaliers, whose fortunes have not been buoyed as expected by the return of superstar LeBron James, are still looking for a center to bolster their subpar 19-16 record. Kosta Koufos of the Memphis Grizzlies and Timofey Mozgov of the Denver Nuggets are players Cleveland is reportedly interested in.

[AP]

Write to Rishi Iyengar at rishi.iyengar@timeasia.com.

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