3:13pm: The Kings have officially announced the trade, reports Sean Cunningham of Fox 40 KTXL (via Twitter).
11:59am: The Cavaliers will pick up a second-round draft choice in a trade with the Kings, tweets ESPN’s Adrian Wojnarowski. Cleveland will send the draft rights to Sasha Vezenkov to Sacramento in exchange for pick No. 49 in tonight’s draft.
The Cavs will also ship $1.75MM to the Kings in the deal, according to Chris Fedor of Cleveland.com (Twitter link).
Cleveland now has three second-round picks at 39, 49 and 56, along with a first-rounder at No. 14. The Kings are left with picks No. 4 and 37.
Vezenkov, a 26-year-old forward, was a first-team All-EuroLeague selection this season, Wojnarowski notes. He has played for Olympiacos in Greece for the last several seasons and averaged 13.8 PPG and 5.6 RPG on .547/.388/.840 shooting in 31 EuroLeague games (29.6 MPG) in 2022/23.
Vezenkov was drafted by the Nets with the 57th pick in 2017, and his NBA rights were sent to Cleveland in the 2021 James Harden trade.