The Cleveland Cavaliers have acquired point guard Jeremy Pargo, Memphis’ 2014 second round draft pick and cash considerations from the Memphis Grizzlies in exchange for guard/forward D.J. Kennedy.

"Our approach remains consistent as we try to bring in young talent, create future opportunity with draft picks as potential assets and maintain flexibility,” said Cavaliers General Manager Chris Grant. “Jeremy adds depth to our backcourt. He is a young, aggressive, athletic guard who we feel fits well with our style of play, both defensively and offensively. We look forward to welcoming him to Cleveland."

Heading into just his second season, Tristan Thompson is already thinking about a leadership role on the Cavaliers.

“I think I need to take a bigger leadership role,” Thompson said Tuesday while in Las Vegas for the NBA Summer League. “(With) Kyrie and myself coming in here we’ve got a lot of young guys so we’re almost like the veterans.

“We’ve got to come in here and show them the ropes, show them right from wrong, really build chemistry.”

Thompson plans to stay in Cleveland this summer to work with teammates and the Cavaliers coaching staff.

C.J. Miles is scheduled to meet with the Cavaliers this week.

Miles is an unrestricted free agent and has drawn interest from several teams since free agency began on July 1.

The following 36 NBA players are currently under contract for the 12-13 season and are on their respective country's Olympic rosters:

Atlanta Hawks - no players

Boston Celtics - no players

Brooklyn Nets - Deron Williams (USA)

Charlotte Bobcats - no players

Chicago Bulls - Luol Deng (Great Britain)

Cleveland Cavaliers - Anderson Varejao (Brazil)

Dallas Mavericks - no players

Denver Nuggets - Timofey Mozgov (Russia)

Detroit Pistons - no players

Golden State Warriors - no players

Houston Rockets - no players

Indiana Pacers - no players

Los Angeles Clippers - Chris Paul (USA)

Los Angeles Lakers - Kobe Bryant (USA), Pau Gasol (Spain)

Memphis Grizzlies - Marc Gasol (Spain) 

Miami Heat - LeBron James (USA)

Milwaukee Bucks - no players

Minnesota Timberwolves - Kevin Love (USA), Alexey Shved (Russia)

New Orleans Hornets - Anthony Davis (USA), Al-Farouq Aminu (Nigeria)

New York Knicks - Carmelo Anthony (USA), Tyson Chandler (USA), Pablo Prigioni (Argentina)

Oklahoma City Thunder - Kevin Durant (USA), Russell Westbrook (USA), James Harden (USA), Serge Ibaka (Spain)

Orlando Magic - no players

Philadelphia 76ers - Andre Iguodala (USA)

Phoenix Suns - Luis Scola (Argentina)

Portland Trail Blazers - Nicolas Batum (France), Victor Claver (Spain), Joel Freeland (Great Britain)

Sacramento Kings - no players

San Antonio Spurs - Tony Parker (France), Manu Ginobili (Argentina), Boris Diaw (France), Tiago Splitter (Brazil), Patty Mills (Australia), Nando De Colo (France)

Toronto Raptors - Jose Calderon (Spain), Jonas Valanciunas (Lithuania), Linas Klezia (Lithuania)

Utah Jazz - no players

Washington Wizards - Nene (Brazil), Kevin Seraphin (France)

• Click here to view the full Olympic rosters.

Dion Waiters is still dealing with an ankle injury sustained during a workout before the draft.

Waiters averaged 12.3 points on 30 percent shooting during three Summer League games with the Cavaliers.

"I think his week was OK," Byron Scott said. "We all wish he would have played a little bit better and shot the ball better. But we knew he was coming off an ankle injury before he came here and [had] a couple little nagging injuries. He hurt the knee when he went up to dunk, so we held him out as a precautionary move.”

Waiters sat out Cleveland’s final two games as the team finished with a 3-2 record.

"We still feel pretty good about where he is,” Scott said. “He's still got a ways to go. We talked about his conditioning and losing a few pounds. But we feel he's going to be in great shape when training camp comes."

The Cavaliers beat the Knicks by a final score of 98-64 in Summer League play on Friday.

Tristan Thompson scored 13 points on 5-for-7 shooting for Cleveland. Samardo Samuels had nine points and 13 rebounds and Tyler Zeller had 12 points and five boards.

Mustapha Farrakhan had 13 points and Jerome Jordan had 11 points and three rebounds for New York. Chris Copeland scored 12 points on 5-for-9 shooting.

The Timberwolves beat the Cavaliers by a final score of 78-65 in Summer League play on Thursday.

Derrick Williams had 23 points and five rebounds for Minnesota. Coby Karl scored 18 points on 6-for-7 shooting and Kammron Taylor added 12 points and three rebounds.

Tristan Thompson had 16 points and 5 rebounds. Samardo Samuels had 14 points and five rebounds for Cleveland.

The Cavaliers are eager to acquire Andrew Bynum in a three-way trade with the Lakers and Magic involving Dwight Howard, but they are not prepared to move forward without an assurance from Bynum.

"Cleveland will only do the deal if Bynum extends," a league official directly involved in the talks told Yahoo! Sports.

The Lakers want the framework of a trade to be agreed upon before the Cavaliers begin engaging Bynum on an extension.

Andrew Bynum's agent, David Lee, was surprised to read a recent report indicating his interest in signing a new deal with the Cavaliers.

"When I read it online I was in Alaska with Andrew and his family," said Lee. "I was taken aback by the list considering there is nobody in anybody’s camp he could’ve been talking to. I have no idea where that came about."

The Cavaliers have been involved in multi-team Dwight Howard/Bynum trade talks involving the Lakers and Magic.

The Yahoo! report also included the Mavericks as a team Bynum would be interested in signing with.