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Here are terms of Celtics-Hornets sign-and-trade for Hayward

/ by Darren Hartwell
Presented By TD Bank
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Gordon Hayward officially is a member of the Charlotte Hornets -- and the Boston Celtics officially will get something in return for the departed veteran.

The Celtics and Hornets completed a sign-and-trade Sunday that sends Hayward and two future second-round draft picks to Charlotte and a conditional future second-round pick to Boston, the teams announced.

Most importantly, the Celtics now have a traded player exception that should equate to roughly $30 million with Hayward joining Charlotte on a four-year, $120 million contract.

The C's must use their trade exception within a year, but they now essentially have a free $30 million they can use to pay any players they acquire via trade.

That puts the pressure on Celtics president of basketball operations Danny Ainge to swing a deal for an impact veteran who can boost Boston's title hopes.

Whether Ainge makes that move prior to February's NBA trade deadline or waits until the 2021 offseason will depend on his confidence in this year's squad.

UPDATE (5:30 p.m. ET): According to ESPN's Bobby Marks, the Celtics' trade exception is worth $28.5 million.