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The Cavaliers have traded Rodney Hood to the Portland Trail Blazers for guards Nik Stauskas, Wade Baldwin and two second-round picks, according to a report from Adrian Wojnarowski of ESPN.
Hood has been available and had to waive his no-trade clause, which he did. The second-round picks are in 2021 and 2023.
Stauskas and Baldwin both have expiring contracts, meaning they will be unrestricted free agents after the season.
UPDATE: The Blazers have officially announced the trade.
The 26-year-old was acquired by Cleveland at the trade deadline last season. He averaged 12.2 points, 2.5 rebounds and 2.0 assists in 27.4 minutes in 45 games (all starts) this season for the Cavaliers, shooting 42.7 percent from the field, 36.2 percent from deep and 91.2 percent from the free-throw line.
The 6-foot-8, 206-pound Hood was selected by the Jazz with the 23rd overall pick in the 2014 NBA draft out of Duke.
Stauskas, 25, has averaged 6.1 points, 1.6 boards and 1.4 assists in 15.3 minutes in 44 games, all off the bench, for the Blazers this season, with a shooting line of 41.9/34.4/88.9. His 42 percent from the field is a career best.
The 6-6, 205-pound guard was taken with the eighth overall pick in the 2014 draft by the Sacramento Kings out of Michigan. He was traded to the Philadelphia 76ers in July 2015, with the Sixers dealing him to the Brooklyn Nets on Dec. 7, 2017. He signed as a free agent with the Trail Blazers on July 5 last summer.
Baldwin, 22, saw only limited duty in Portland this season, averaging 1.9 points in 5.9 minutes in 16 games, also spending time with its G-League affiliate, the Texas Legends.
The 6-4, 200-pounder was the 17th overall pick of the 2016 draft out of Vanderbilt by the Memphis Grizzlies, who waived him Oct. 16, 2017. Baldwin signed a two-way deal with Portland on Oct. 20, 2017, then a multi-year deal with the team March 12, 2018.
The NBA trade deadline is Thursday at 3 p.m. EST.
Colton Jones contributed to this report.