The Cleveland Cavaliers, Brooklyn Nets and Boston Celtics have agreed upon a three-team trade.

The trade allows the Cavaliers to create approximately $24 million in cap space, with LeBron James' max contract being worth $20.7 million. The Cavaliers also acquire the draft rights to three Nets' prospects (Ilkan Karaman, Christian Drejer and Edin Bavcic).

The Nets will acquire Jarrett Jack and Sergey Karasev.

The Celtics acquire Tyler Zeller, Marcus Thornton and the Cavaliers' 2016 first round pick. Boston will have $33 million in contracts coming off the books in Thornton, Rajon Rondo, Brandon Bass and Joel Anthony.