Report: Cavaliers acquire Channing Frye, Anderson Varejao to Trail Blazers

The Cavaliers have acquired forward Channing Frye from the Magic in a trade that also sends Anderson Varejao from Cleveland to the Trail Blazers.

The Cavaliers have acquired forward Channing Frye from the Magic in a trade that also sends Anderson Varejao from Cleveland to the Trail Blazers, according to multiple reports.

Frank Isola of the New York Daily Newswas first to report that Frye was headed to the Cavs. USA Today’s Sam Amick first reported Varejao’s involvement. The Blazers “will likely waive” Varejao, The Vertical’s Adrian Wojnarowski reports.

Amick also reports that the Cavaliers will send guard Jared Cunningham to the Magic, though Cunningham is expected to be waived. Portland receives a 2018 first-round pick from the Cavs and the Magic get a second-rounder from the Blazers, ESPN’s Dave McMenamin reports.

Frye, 32, has two years and about $15 million remaining on the four-year contract he signed with Orlando in 2014. In 44 games this season, he is averaging 5.2 points and 3.2 rebounds per game while shooting 43.5% from the field and 39.7% on threes. 

Varejao, 33, has one year and $9.6 million left on his contract. He has appeared in 31 of Cleveland’s 52 games this season, averaging 10 minutes per game.