The Boston Celtics announced on Sunday that they completed a sign-and-trade to send Gordon Hayward to the Charlotte Hornets, along with two second-round picks.
The Celtics will receive a traded-player exception (TPE) as a result of the deal, worth somewhere in the neighborhood of $27 million. The TPE -- which is the largest in NBA history, per ESPN’s Bobby Marks -- will last for one calendar year from the date of the deal (Sunday), at which point it will expire. Per a source, the Celtics also received a top-55 protected second-round pick, and they sent out their own second-round picks in 2023 and 2024.
The TPE is a big deal -- it allows the Celtics to absorb an enormous contract onto their books without directly matching salary in a trade. That matters quite a bit, since the Celtics won’t have cap space to make additions otherwise. The Celtics will now be able to target a player who fits within the parameters of that TPE. They can’t, however, combine traded player exceptions, meaning they can’t acquire a player worth $32.9 million by putting together Hayward’s TPE with the one created by trading Enes Kanter.
Teams can also break up the TPE into smaller amounts for use in several deals -- the entire exception does not need to be used on one player. Given the Celtics’ salary situation, and the fact that they gave up real value to acquire the TPE with a pair of second-round picks, that could be a realistic option.
The Celtics were reportedly looking to add a third team to the deal, which would have helped both teams -- the Celtics could have acquired a player, and the Hornets could have found a landing spot for wing Nicolas Batum. Instead, the Hornets stretched the final year of Batum’s contract to make room for Hayward -- a move that will add $9 million to their payroll for the next three years.
MassLive will have more on this deal soon.
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Boston Celtics complete Gordon Hayward sign-and-trade with Charlotte Hornets, will receive trade exception - MassLive.com
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