The Cleveland Cavaliers are preparing to ship forward Richard Jefferson and guard Kay Felder to the Atlanta Hawks, according to The Vertical's Shams Charania.
The Hawks will also receive two future (2019, 2020) second-round picks and cash in return, per ESPN's Adrian Wojnarowski, who also reports that Atlanta intends to waive Jefferson and Felder.
Both players will become free agents after clearing waivers.
The trade will allow Cleveland to trim its roster down to 15 players ahead of the regular season. Jefferson, 37, played two seasons in a reserve role with the Cavaliers, but was a spark off the bench at times and served as a key contributor during the team's comeback from a 3-1 deficit in the 2016 Finals.
Felder was selected 54th overall by Cleveland in the 2016 draft and played in 42 games as a third-string point guard.
Atlanta, a team on the rebuild, gets to pile up more draft picks. The Hawks will send back European draft rights as part of the deal, according to Wojnarowski.