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Wizards Complete Three-Team Trade
Trevor Ariza Sent to Houston; Wizards Receive Trade Exception
WASHINGTON, D.C. - Washington Wizards President Ernie Grunfeld announced today that the team has completed a three-team trade with Houston and New Orleans. As part of the deal, the Wizards will sign free agent forward Trevor Ariza and send him to the Rockets, netting them a trade exception and center Melvin Ely.
Per the NBA's Collective Bargaining Agreement, the Wizards will have a period of one year to use the trade exception during which they could acquire players from other teams for up to the value of the exception. Ely, a nine-year veteran, comes to the Wizards on a non-guaranteed contract.
Houston will receive Ariza from the Wizards along with Alonzo Gee, Scotty Hopson and a 2015 first round pick from the Pelicans. New Orleans will receive Omer Asik, Omri Casspi and cash considerations from the Rockets.
For a further explanation of the trade exception rules, please go to page seven of the NBA’s CBA 101 document at http://mediacentral.nba.com/media/mediacentral/CBA101.pdf.