Cleveland Cavaliers, 2016: Matthew Dellavedova

After playing his first three years in the league with the Cavs, Matthew Dellavedova is headed for Milwaukee.

(Thomas Ondrey)

CLEVELAND, Ohio. - The Cleveland Cavaliers will orchestrate a sign-and-trade with the Milwaukee Bucks that will send restricted free agent guard Matthew Dellavedova to the division rival, league sources informed cleveland.com.

In return, Cleveland will receive a $4.8 million trade exception, cash and the rights to Albert Miralles, league sources told cleveland.com.

Cleveland.com reported earlier this week that the Cavaliers wouldn't match the Bucks' offer sheet of four years, $38.5 million.

Dellavedova, 25, is expected to sign his deal today. The Cavaliers would have had three days to match the offer sheet to retain the services of their backup point guard, but cleveland.com was told that wouldn't be the case.

"We wish Delly the best as he continues his career in Milwaukee," said Cavs General Manager David Griffin. "Delly is a special person on and off the court and was a very dedicated, hard worker that grew as part of our team and made significant contributions to our success. Our coaches and his teammates will always appreciate his 'all in' approach to the game, as he was ready to contribute whenever his number was called. We know he will continue to grow and succeed as he takes the next steps of his NBA journey with the Bucks."

Dellavedova's new deal contains no team or player option.

The third-year guard is coming off a season in which he produced career-high numbers of 7.5 points, 4.4 assists and in shooting the three-ball at a 41 percent clip.

Miralles, a 34-year-old forward who was drafted by Toronto in 2004, has never played an NBA game. He has, however, been included in four trades including this one. He has been attached to the Heat and Celtics along with the Raptors, Bucks and now Cavaliers.

Coincidentally, the pick the Raptors used to take Miralles in '04 originally came from the Cavaliers in a deal that sent Lamond Murray to Toronto. Cleveland received Michael Stewart and a 2007 first-round pick that was eventually sent to Charlotte in a deal that brought Sasha Pavlovic to the Cavs.

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Delly left a classy parting message for Cleveland on his Twitter account.