If Smith gets waived by June 30, a team could either leave the $3.8 million on its cap for the 2019-20 season or stretch it, spreading the guaranteed money across three years at a rate of $1.29 million. Financial flexibility can’t be easily attained prior to July 1. The Cavs provide that path. In most cases, the Cavs are seeking a first-round pick.
If the selection is a late first, similar to the one they received from Houston, they would ask for a young player on a rookie deal or a second draft pick in the future. It’s all about adding assets (picks and players) for this lengthy rebuild.