Cavaliers Appeal For Extension On $14.5 Million Trade Exception
With the collective bargaining agreement set to expire in about a month and no real signs of progress, a likely lockout has left the Cavs in a predicament with their trade exception.
The Cavs have until July 9 to use the $14.5 million trade exception they obtained in the LeBron James deal with the Miami Heat. But the lockout is set to begin July 1, rendering the final nine days of the trade exception worthless.
The Cavs have petitioned the league to have the final nine days tacked on to the new season. If granted, it would give the Cavs nine days after the lockout was lifted to use whatever part of the exception they had remaining. But the Cavs have no idea whether or not the league will grant the request, and they don't expect to hear an answer from the league until after the lockout is lifted.