The Boston Celtics acquired power forward-center David Lee in a trade with the Golden State Warriors for shooting guard-forward Gerald Wallace.
David Lee is on his way to the Boston Celtics.
Don't Miss: The Best HDR TVs
A July 7 update from ESPN's Marc Stein says the Golden State Warriors agreed to trade Lee to the Celtics for veteran Gerald Wallace.
Stein says the trade can only be made official on Thursday, July 9. That's when the NBA lifts its leaguewide moratorium on roster business.
The 32-year-old Lee conceded his starting 4-spot to Draymond Green early in the 2014-15 NBA season due to an unfortunate hamstring injury. The Warriors got off to a 21-2 start which forced head coach Steve Kerr to play Lee less, per ESPN.
Prior to the trade, Lee just concluded the fifth year of a six-year deal with Golden State which pays him a total of $80 million.
Stein stresses trading Lee frees up $15.4 million in salary-cap space for the Warriors next season. Should they decided to retain Wallace, their payroll will still fall below $100 million. This would result in luxury-tax savings of almost $20 million for Golden State.
Stein also says the Warriors can waive Wallace, who will earn $10.1 million in 2015-16, and then use the stretch provision on his contract. This would effectively lower the luxury-tax savings even further.
Not only that, Wallace gets to be paid $3.3 million every year for the next three seasons even if he ends up not suiting up for the Warriors, per Stein.
Stein reiterates Lee reached an agreement with the Warriors after they won the NBA title last month that they would find him a new team so he will get more playing time. Both sides also agreed to this set-up for the Warriors to have more breathing room in their salary cap.
Lee was Golden State's second-longest tenured player last season. The Warriors made it known to him and his agent, Mark Bartelstein, that it would be unfair for him to play in a limited role given his contract and talent, per ESPN.
Lee fortifies the Celtics' frontcourt even more with the addition of former Toronto Raptors forward-center Amir Johnson, who Stein says agreed to a two-year, $24 million contract with the team last week.
The Warriors envisioned building their foundation around Stephen Curry and Lee, who was named an All-Star two years ago. He was the first Golden State player to earn that distinction at the time in 16 years, per CSN Bay Area Warriors Insider Monte Poole.
For his part, Wallace didn't get to see much action with the Celtics in his two-year stint with the team. The Brooklyn Nets traded him to Boston in 2013 as part of the blockbuster Kevin Garnett deal, per ESPN.
Wallace was a bit critical of the young Celtics in the early going of his career with the team, but eventually mellowed down, per Stein.
Second-year Boston point guard Marcus Smart told Stein during NBA Summer League play in Utah on July 7 he's all praises for Wallace:
"Gerald's a great, great guy. He's one of those vets that he tried everything to teach you from what he learned in his experience in the league.
"I think Gerald's been in the league for, I forgot how long, but Gerald's old. Gerald's a grandfahter in this league, and you can see why. He's been in the league for a long time. He's been in the league for a long time.
"You just gotta find out what he's been doing right and take it in as part of your personality."
Lee has averaged 14.7 points, 9.5 rebounds and 2.3 assists in 695 career regular-season games for the New York Knicks and Golden State Warriors, per ESPN stats.
On the other hand, the 32-year-old Wallace has averaged 11.9 points, 5.8 rebounds and 2.1 assists in 832 career regular-season games for the Sacramento Kings, the then-Charlotte Bobcats, Portland Trail Blazers, Brooklyn Nets and Boston Celtics, per ESPN stats.
Make sure to log on to I4U News for the latest trends and developments for the geek mind.
Buy Now: Sony PlaysStation VR In Stock Here