When Gordon Hayward decided to leave the Celtics and sign a four-year, $120 million deal with the Hornets, there was some concern that yet another Boston star had departed with the team receiving nothing in return.
But all along the Celtics were working to facilitate a sign-and-trade that would at least net them something. On Sunday, the team agreed to send two future second-round picks to the Hornets in exchange for a protected second-round pick and a substantial trade exception that is expected to be worth about $30 million as part of a sign-and-trade involving Hayward.
Initially, it was believed the Hornets would have interest in a sign-and-trade so they would not have to waive and stretch forward Nicolas Batum’s $27 million salary over the next three seasons, creating a $9 million cap hit each year. But the Hornets decided to waive Batum on Sunday anyway.
Still, the sign-and-trade allows Charlotte to grab draft assets from the Celtics that they otherwise would not have received if Hayward had signed outright. The Celtics, who had eight second-round picks over the next five years, receive the trade exception that does not cost Charlotte anything.
The Celtics will now have one year to use this trade exception before it expires. It could be quite useful on this Boston roster that does not have any older veterans on expiring contracts to use in trades. Without an exception, the Celtics would be unable to acquire a high-salary player in a trade without shipping out a similar amount of salary, and that would necessitate breaking up their core group.
The timing of this exception is also helpful to Boston during this unusual offseason. The trade exception will be in play leading up to this year’s trade deadline, as well as the entirety of next offseason, assuming the league is able to reestablish its regular calendar.
The Celtics’ signings of center Tristan Thompson and point guard Jeff Teague should now be finalized in short order. Thompson on Saturday posted a picture on Instagram of himself on a private jet with a caption of an arrow pointing to a shamrock emoji, indicating that he was Boston bound.
With its roster nearing completion, the Celtics will now quickly move forward with the upcoming season. Individual workouts are scheduled to begin at the Auerbach Center on Tuesday, followed by group workouts next Sunday.
The Celtics will then play preseason games against the 76ers on Dec. 15 and the Nets on Dec. 18 before opening the regular season the following week.
Adam Himmelsbach can be reached at adam.himmelsbach@globe.com. Follow him on Twitter @adamhimmelsbach.
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November 30, 2020 at 03:55AM
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Celtics complete sign-and-trade, send Gordon Hayward to Hornets for massive trade exception - The Boston Globe
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