J.R. Smith has been traded to the Cavaliers in a three-team deal involving Dion Waiters, according to Adrian Wojnarowski.

Advice: Oklahoma City is the third team involved and there are still moving pieces yet to be reported, but so far it sounds like Smith and Iman Shumpert will land in Cleveland, Reggie Jackson will be sent to New York, and Waiters will head to Oklahoma City. Stay tuned as all the details unfold.