As of now, the expectation is that Anthony will land in Houston, where he probably will be the starting power forward alongside Chris Paul, James Harden, P.J. Tucker and Clint Capela.
According to ESPN's Adrian Wojnarowski, the Oklahoma City Thunder have agreed to trade Melo and a protected 2022 first-round pick to the Hawks in exchange for point guard Dennis Schroder. In addition, forward Mike Muscala was re-routed from Atlanta to Philadelphia through Oklahoma City, which will receive former first-rounder Timothe Luwawu-Cabarrot from Philly.
Schroder comes to the Thunder for a desired need: another fast, playmaking point guard for a revved-up bench behind All-Star guard Russell Westbrook.
The Hawks are ready to head in a new direction under general manager Travis Schlenk and new coach Lloyd Pierce, and they needed to get rid of Schroder to do that. The trade still saves the Thunder almost $100 million in luxury tax payments as they take on Schroder's contract worth $15.5 million per year, according to Wojnarowski. The stretch provision would have added $9 million-plus a year to the Thunder's payroll for the next three years, dead money that could not be moved off the cap.
The Thunder will now see their projected luxury tax bill drop from $150M to $88.8M, a savings of $62M.
The Thunder could've waived Anthony or used the stretch provision on his contract instead of a trade, but chose to move him for a pair of players who could be useful on next season's team.
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The long-awaited Carmelo Anthony trade took place moments ago.
"Oklahoma City was able to accomplish two things by trading Carmelo Anthony to Atlanta, improve the roster while saving $73M this season". He averaged a career-high 19.4 points along with 6.2 assists in 31.0 minutes per game last season, although his 3-point accuracy dipped to 29.0 percent from 34.0 percent the year before.
After saving almost $80 million on Thursday, the team also picked up a viable backup point guard in Schroder and a young wing player in Luwawu-Cabarrot. That will come with what now is a luxury tax payment of $88.8 million, meaning the Thunder is slated to pay about $237.5 million combined next season.
Anthony will be entering his 16th year in the National Basketball Association next season.
OKC stands to save over $70 million, according to ESPN's Bobby Marks.