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Per Woj:
The Clippers are sending cash to the 76ers with Cunningham, league source tells Yahoo Sports. Philadelphia will likely waive Cunningham.
— Adrian Wojnarowski (@WojYahooNBA) January 7, 2015
Jared Cunningham has been around for a few years but has struggled to find playing time - first in Atlanta and just this year with the LA Clippers. He's a super-athletic guard who hasn't figured things out, which makes you wonder why the Sixers are unlikely to explore that option. he Sixers may very well release Cunningham but still have interest in a 10-day deal.
The return for the Clips is likely a highly protected pick that will never be sent there, or something like the rights to Sergei Lishouk. Cunningham would have been waived by LA if not for this deal. As Jake Pavorsky wrote this morning, contracts become guaranteed if players with non-guaranteed deals are on a roster at 5:00PM or later today.
The Clippers trading Cunningham means none of his salary is subjected to the NBA's luxury tax, per Larry Coon's CBA FAQ. If he were waived, Cunningham's salary to this point would count, which is why they made the deal.
A Clippers beat writer tweeted that the Clips have interest in Tony Wroten, but Woj has shot that down. If more stuff breaks, like my heart after any mention of trading Wroten, we'll update you.