The Portland Trail Blazers have agreed to a trade with the Brooklyn Nets, swapping Allen Crabbe for Andrew Nicholson, according to ESPN's Adrian Wojnarowski.
Portland has traded Allen Crabbe to Brooklyn for Andrew Nicholson, league sources tell ESPN.— Adrian Wojnarowski (@wojespn) July 25, 2017
According to Wojnarowski, the Blazers intend to waive Nicholson and stretch his salary to help create some cap relief.
In waiving Nicholson and stretching his contract, the Blazers will take just a $2.8 million cap hit over the next seven seasons.
$2.8M cap hit on the Andrew Nicholson contract for the next 7 years. https://t.co/ItXojipXMq— Bobby Marks (@BobbyMarks42) July 25, 2017
For Brooklyn, they finally got their man. The Nets offered Crabbe a 4-year, $75-million offer last off-season, only to see the Blazers match the deal.
Crabbe had been speculated in many trade scenarios, but a trade kicker in his contract made him hard to offload. However, Crabbe intends to waive his kicker, worth an extra $5.7 million, for the Nets.
The value of the Allen Crabbe trade kicker that he waived was $5.7M. Brooklyn had put the 15% kicker in the offer sheet last July. https://t.co/pB73EBFqrI— Bobby Marks (@BobbyMarks42) July 25, 2017
For the Blazers, they finally get to shed one of their bloated contracts and move closer to creating some cap flexibility. According to Bobby Marks, the Blazers luxury tax bill drops from $48.3 million to just $4.4 million with Crabbe off the books.
Portland will see their current luxury tax bill drop from $48.3M to $4.4M with the Allen Crabbe trade to... https://t.co/8AQO0BCHSB— Bobby Marks (@BobbyMarks42) July 25, 2017
The Blazers need to create as much cap space as possible if they hope to retain 2018 free agent Jusuf Nurkic, and this move helps them do just that. The trade also creates a $12.9 million trade exception for the Blazers that expires next summer.
Portland will also generate a $12.9M trade exception that will expire next summer.— Bobby Marks (@BobbyMarks42) July 25, 2017
OFFICIAL RELEASE FROM TEAM:
The Portland Trail Blazers have acquired forward Andrew Nicholson from the Brooklyn Nets in exchange for guard Allen Crabbe, it was announced today by president of basketball operations Neil Olshey.
“Allen has been a model teammate on the court and ambassador for the organization off the court,” said Olshey. “He will be missed by all of us who shared the last four seasons with him. We wish him the best of luck as he continues his career in Brooklyn.”
Nicholson, 27, has averages of 6.0 points (46.7% FG, 32.1% 3-PT, 77.3% FT), 3.0 rebounds and 0.4 rebounds in 285 games (36 starts) over five seasons with Orlando, Washington and Brooklyn.
Selected with the 19th overall pick in the 2012 NBA Draft out of St. Bonaventure, Nicholson (6-9, 250) split the 2016-17 season with Washington and Brooklyn, posting averages of 2.6 points, 1.6 rebounds, 0.3 assists and 9.0 minutes in 38 games.
Crabbe holds career averages of 8.3 points (45.6% FG, 41.1% 3-PT, 84.8% FT), 2.3 rebounds and 1.1 assists in 226 games (24 starts) over four seasons with the Trail Blazers. Acquired in a 2013 NBA Draft day trade with Cleveland, Crabbe ranks third among all-time franchise leaders with a career 41.1% mark from three-point range (minimum 100 3-pointers).
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