The first domino Nicolas batum fell and the Hornets can now formalize the arrival of Gordon Hayward. As Woj mentioned a few days ago, it is in a sign & trade that the winger arrives in North Carolina.
The Celtics announce that they sent Hayward in addition to two future second draft rounds in exchange for a conditional second round. There you are wondering how it is possible that Boston loose so much, it is quite simply because in exchange they recover a huge trade exception of 27.9 million dollars, which is a record according to ESPN.
What is a trade exception? It allows to absorb a salary or several salaries in a trade for an amount up to the value of the trade exception. It allows in particular to balance the wages in a trade by releasing for example only picks for a player with a large salary. Note that if it cannot be used to sign a free agent, it can be used in a sign & trade.
We have traded Gordon Hayward and 2 future second round draft picks to the @hornets in exchange for a conditional future second round draft pick. The sign-and-trade agreement also creates a trade exception for Boston.
— Boston Celtics (@celtics) November 29, 2020
The $27.9M trade exception that Boston has created is the largest in league history.
— Bobby Marks (@BobbyMarks42) November 29, 2020