NBA trade news: The Boston Celtics recently sold Gordon Hayward to the Charlotte Hornets. Thus, creating the largest trade player exception in NBA history. NBA Draft saw Charlotte Hornets pick LaMelo Ball as their 3rd pick and now they will pay Gordon Hayward $28.5 million in his first year.
As part of the trade, the Boston Celtics will send two unprotected picks in 2023 and 2024. Whereas, Charlotte will send a protected top 55 pick to Boston.
Since the Hornets will pay Hayward $28.5 million after he opted out of a max contract from the Celtics, the Celtics will receive a trade player exception (TPE) of the same amount, making it the largest in NBA history.
This TPE will expire one year from the date of the trade. Meaning, Boston will have until 11/29/21 to use the TPE.
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🔥 @gordonhayward was meant to rock pinstripes 🔥
WELCOME TO BUZZ CITY, GORDON! 🐝 pic.twitter.com/Y16Cn5QHLU
— Charlotte Hornets (@hornets) November 29, 2020
NBA trade news: How can this trade player exception(TPE) be used?
TPEs cannot be combined with other TPEs, nor can they be aggregated with outgoing player salaries. For instance, Boston can not add a $10 million salary to bring in a player who makes nearly $38 million.
Boston could trade someone who makes a comparatively small salary while inducing a larger salary that fits within the Hayward TPE.
Celtics can also acquire a player who makes up to $28.6 million (the $28.5 million TPE plus the $100,000 allowed in salary-matching).
Boston also has smaller TPEs of $4.7 million and $2.5 million from the sale of Enes Kanter and Vincent Poirier.
Having a TPE for Hayward gives Boston GM, Danny Ainge the flexibility as he builds out the new Celtics roster for the remainder of this offseason. If Ainge is unable to find a deal he likes, this TPE can be rolled over and used leading up to the 2021 NBA Draft or during the 2021 free agency.