The Rockets reportedly acquired veteran swingman Iman Shumpert from the Sacramento Kings yesterday via a three-team trade.
The Sacramento Kings introduce two new players - Alec Burks and Harrison Barnes - acquired in recent trades at a news conference at Golden 1 Center on Friday.
In return, the Cavaliers will get Brandon Knight, Marquese Chriss and a lottery protected first-round pick from the Houston Rockets.
Teams just keep pulling off deals before the National Basketball Association trade deadline.
Shumpert is a career 39 percent 3-point shooter, which will be valued by the Rockets.
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Houston acquired Knight, alongside Chriss, this offseason in a trade for Ryan Anderson. The former North Carolina standout grew up in Houston and has appeared in 120 career National Basketball Association games (44 starts) since the Kings selected him with the No. 15 overall pick in 2017. Burks' contract expires this summer. Barnes has a player option on his $25 million deal for next season.
According to The Athletic's Shams Charania, the Kings will also be getting a second-round pick from Cleveland.
Shumpert joined the Rockets in Sacramento and is flying back to Houston with the team. Shumpert is a free agent after this season, so they procure a pick rather than risk him walk away for nothing.
Shumpert, 28, has had a strong season for the resurgent Kings, averaging 8.9 points, 3.1 rebounds and 2.2 assists.