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Wojnarowski: Trail Blazers Trade Allen Crabbe to Brooklyn Nets for Andrew Nicholson

Crabbe was sent to the Nets Tuesday. Portland received Nicholson, but plans to waive him and stretch his salary.

Portland Trail Blazers v Phoenix Suns Photo by Christian Petersen/Getty Images

The Portland Trail Blazers have traded Allen Crabbe to the Brooklyn Nets for Andrew Nicholson. ESPN’s Adrian Wojnarowski broke the news on Twitter.

Nicholson will be waived and his contract paid out over several seasons via the NBA’s “stretch provision,” according to Wojnarowski.

Nicholson was set to make $19.9 million over the next three seasons. That salary will now be spread evenly over the next seven seasons, per the rules of the stretch provision, meaning the Blazers will owe Nicholson $2.84 million annually until 2024. Crabbe was set to make over $56 million over the next three seasons.

In the short term, the Blazes have reduced their 2017-18 payroll from $138.2 million to $121.7 million (all cap numbers from Eric Pincus at Basketball Insiders), and cut a $40+ million luxury tax payment down to about $3.6 million.

Crabbe also reportedly waived his trade bonus to facilitate the trade.

Crabbe averaged 10.7 points per game for the Blazers this year in 79 games, including an impressive 44.4% rate from the three-point arc. He underwent surgery to repair repair the fifth metatarsal bone in his left foot, and is expected to be ready by training camp. Crabbe’s season review from Blazer’s Edge can be found here.