For the Bucks, this is a salary-clearing situation as they'll save $18 million in cap space for the 2019-20 season.
According to Adrian Wojnarowski of ESPN and Shams Charania of The Athletic, the Cleveland Cavaliers are sending point guard George Hill to the Milwaukee Bucks in exchange for Matthew Dellavedova, John Henson, and a future first-round and second-round pick. The Cavaliers and Wizards also swapped second-round picks.
Affectionately known to Cleveland fans as "Delly", Dellavedova was a key member of the Cavs' 2016 title team before he signed with the Bucks later that summer.
"We're excited to welcome George and Jason to the Bucks organization", GM Jon Horst said.
The Bucks are getting a 46-percent shooter from 3-point range in Hill, who fits into their new long-range shooting philosophy under first-year coach Mike Budenholzer, plus a backup to starter Eric Bledsoe. Hill returned from injury on December 1 against the Raptors.
The 28-year-old Dellavedova will get a chance re-start his career with the Cavs.
The undersized point guard averaged 5.7 points and 3.4 assists per game during his three seasons in Cleveland, including an epic 2015 Finals performance that saw him score 20 points in Game 3 while leading the Cavaliers to victory.
The timing of the trade was important as it means any of the players in the trade could be traded again before the trade deadline in February, as much as the Cavs love Dellavedova, another team may trade for his contract and send a longer-term contract and draft picks to the Cavs.
"Both George and Sam Dekker went about their work here with professionalism and class and we wish them the best". Dekker's short stint in Cleveland ends after nine games, where he averaged 6.3 points, 3.7 rebounds and 1.0 assists per contest.
There was no surprise whatsoever that the Cavaliers traded Hill; he is a veteran that can help a stabilize a second unit point guard role on a contending team with his low-usage style, and spot-up prowess.