OKLAHOMA CITY - Multiple sources are reporting that the Oklahoma City Thunder has acquired Cavs shooting guard Dion Waiters in the three-way trade with Cleveland and New York.

It was initially believed that the Thunder was sending Reggie Jackson to the Knicks to play for former OKC guard Derek Fisher, but those reports were erroneous.

The details of the trade appear to be finalized.  The Thunder is shipping a future first-round pick to Cleveland and forward Lance Thomas to New York in the deal. Meanwhile. the Knicks are trading guards J.R. Smith and Iman Shumpert to Cleveland.


Waiters, 23, is averaging 10.4 points per game this season but has reportedly clashed with teammates and coaches over his role on the team. The fourth-overall pick in the 2012 NBA Draft scored a career-best 15.9 points per game last season and is still considered to have a high ceiling. Waiters is under contract until the end of next season. He makes a little more than $4 million this year and is scheduled to make a little more than $5 million next season.

“Dion Waiters is a player that we've tracked and liked since his time at Syracuse, in the NBA, and with USA Basketball,” Thunder GM Sam Presti said.  “Dion provides another proven scorer that positively impacts our roster and adds depth and flexibility.


“We have a lot of respect for his toughness and competitiveness, and believe that he is a physical playmaker who will enhance the versatility of our team. We are excited to welcome Dion to Oklahoma City and the Thunder organization.”


The deal, at least for the moment, pushes the Thunder into the luxury tax for the first time. But stay tuned, because OKC certainly doesn't need Waiters, Anthony Morrow, Andre Roberson, Perry Jones and Jeremy Lamb all on the wing. So more moves could be coming.


It is unclear whether Oklahoma City will utilize Waiters as a starter or as a reserve, but he has experience with both roles.