Orlando Magic acquire Joe Harris from Cleveland Cavaliers

The Orlando Magic acquired Joe Harris from the Cleveland Cavaliers in a deal that helped the Cavaliers lower their tax bill. Harris will likely be waived.

The Orlando Magic have acquired Joe Harris and a 2017 second round pick from the Cleveland Cavaliers for a 2020 second round pick, Dave McMenamin of ESPN.com reports. The Magic will also receive cash in the deal.

Harris is currently out with a broken foot and had surgery in early January that will have him out for the rest of the year. He appeared in five games, scoring just three points in 15 minutes.

Harris was slated to make $845,059 this year and has a fully unguaranteed contract for next year, according to Basketball Insiders. The Magic are expected to waive Harris once the deal is officially completed, Josh Robbins of the Orlando Sentinel reports.

In addition, the two second round picks involved are top-55 protected. So it is very unlikely either pick will be conveyed.

Essentially, the Cavaliers paid the Magic to take Harris and free up the roster spot and save some luxury tax.

The Cavaliers with Harris on the books would have owed $110 million in salary. Dropping Harris will reportedly save them $3 million in tax payments. Cleveland also received a trade exception in the deal and the Magic reached the limit for the amount of cash they can receive.

This is a minor deal with small ramifications.

For sure, it benefits the Cavaliers a lot more than the Magic. Orlando gets very little out of this deal except for that cash. They took on a minimum salary player they are likely going to cut without penalty. Cleveland just avoids paying some luxury tax figures. And the team gets the open roster spot.

The Magic are merely on the hook for the last half of Harris’ deal and then can walk away (as they likely will).

Orlando was already slightly over the cap and so this does not necessarily change much of what the team can do in trades. Essentially, the Magic still must take in the same amount they send out in any potential future trade — they do not have any cap room to absorb extra space.

There is not a whole lot of benefit to the Magic that is readily apparent. At least that can be seen from the pieces reportedly exchanged in the deal.

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But essentially, they took the cash to take on this minor player they would waive anyway and helped the Cavaliers lower their luxury tax payment and free a roster spot.