Cavs Acquire Keith Bogans

8:25pm: The trade is official, the Celtics announced via a press release.

8:20pm: More details about the trade are rolling in, with Eric Pincus of Basketball Insiders (Twitter link) noting that the Celtics sent the Cavs the rights to the Kings’ 2015 and 2017 second-rounders, both of which are top-55 protected. Marc Stein of ESPN.com also adds Dwight Powell to the list of players heading to Boston.

8:00pm: The second-rounders going to the Celtics will be Cleveland’s 2016 and 2017 selections, notes Gary Washburn of The Boston Globe (Twitter link).

7:41pm: The Celtics will also get a $5.3MM trade exception as part of the deal, notes Goodman (twitter link).

7:20pm: The Cavs will waive guard Chris Crawford once the deal is official, tweets Chris Haynes of The Plain Dealer.

7:16pm: The Celtics are also receiving two second round draft picks as part of the deal, Jeff Goodman of ESPN.com reports (Twitter link).

6:52pm: The Cavaliers and Celtics are in discussions on a trade that would send Keith Bogans to Cleveland, Marc Stein of ESPN.com is reporting. The Cavs are expected to package the non-guaranteed contracts of Erik Murphy, John Lucas III and Malcolm Thomas in return for Bogans, notes Stein.

The acquisition of the 34 year-old shooting guard out of Kentucky would suggest that Cleveland has either received word from free agent Ray Allen that he isn’t interested in signing with the team, or that he intends to retire, though that’s just speculation on my part. Whatever the case is, it would seem that Bogans is taking the role that the Cavs were intending Allen to fill.

Bogans has played 11 seasons in the league after being selected in the second round of the 2003 NBA Draft by the Bucks. His career numbers are 6.3 PPG, 2.7 RPG, and 1.3 APG. Bogans’ career slash line is .394/.353/.716. He has two years remaining on his contract, both non-guaranteed, and he is scheduled to make $5,285,816 this coming season.

As for the Celtics, they currently have 21 players on their roster, including Evan Turner, whose signing has not been officially announced yet. So it’s highly likely that Boston will waive all three players once the deal is completed.