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Report: Cavs Trade Jack To Nets, Create More Cap Space

(CBS) It appears Cleveland is all-in on its attempt to lure LeBron James back home.

The Cavaliers traded guard Jarrett Jack -- and his $6.3 million-per-year contract -- to the Nets on Wednesday morning as part of a three-team trade,'s Marc Stein reported. Cleveland was also sending Tyler Zeller to Boston and Sergey Karasev to Brooklyn. The Celtics were also getting a first-round pick and Marcus Thornton from the Nets, Stein reported.

The Celtics are also sending a second-round pick to the Cavaliers, the Boston Globe's Baxter Holmes reported.

Considering the Cavaliers are getting little in return, this is a clear play for salary cap space. With the move, they'll have about $21.7 million available, according to multiple reports. A max deal for James would start at $20.7 million next year.

Multiple reports have indicated James is deciding between Miami and Cleveland at this point. He's scheduled to meet with Heat president Pat Riley today in Las Vegas.

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