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."