it will most likely happen during the draft when teams interested in moving picks for salary savings to chase free agents can weigh the pros and cons of passing on or just taking players available in the draft.It's been quiet lately on rumors about JR trade... would be dissapointing if the Cavs doesn't get a good asset on that contract and just forced to waive him...
This is why it is reasonable to assume if something happens before the draft it will be for future assets.
I think they will at minimum get a first in the 19-25 range with a 1-2 yr project attached to the bad deal for Smith if they do a deal on draft day. Obviously it would be much better to take back Johnson from Miami for 13 or Mozgov from Orlando for 16 , but those are less likely unless those orgs have strong info they can get the player they want in fa by doing so.