According to Adrian Wojnarowski of ESPN and Shams Charania of The Athletic, the Cleveland Cavaliers are sending point guard George Hill to the Milwaukee Bucks in exchange for Matthew Dellavedova, John Henson, and a future first-round and second-round pick.
Washington's tax bill will drop from $14.49 million to $9.79 million by trading out Smith's $5.45 million salary for Dekker's $2.68 million salary.
The deal potentially could save the Bucks about $19 million next season if they don't keep Hill, who has only $1 million of a $19 million deal guaranteed.
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The undersized point guard averaged 5.7 points and 3.4 assists per game during his three seasons in Cleveland, including an epic 2015 Finals performance that saw him score 20 points in Game 3 while leading the Cavaliers to victory. He will provide veteran depth in the backcourt for a Bucks team that has become a true contender in the East.
There was an urgency to get the deal agreed to before 6 p.m. on Friday because only players on rosters by then can be re-packaged in other trades before February's deadline. The Cavaliers and Wizards also swapped second-round picks. Smith has averaged 3.7 points and 3.1 rebounds in almost 11 minutes per game this season in Washington. Dekker, who is from Sheboygan, Wisconsin, and starred at Wisconsin, has been out for more than a month with an ankle injury. The 24-year-old has played only nine games.
In 12 appearances this season, Dellavedova is averaging 1.7 points, 0.8 rebounds and 2.4 assists per game.
Henson recently underwent surgery to fix a torn ligament in his left wrist.