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The New Orleans Hornets continue to trim their payroll.

The Hornets will send point guard Jarrett Jack to Golden State in a three-team trade that will also send Warriors small forward Dorell Wright to Philadelphia, ESPN's Marc Stein reports. The Hornets, meanwhile, will get back Bosnian forward Edin Bavcic.

The deal saves New Orleans $5.4 million, which opens up more cap room for the team to match Phoenix's four-year, $58 million offer made to restricted free agent Eric Gordon. It also hands the starting point guard job to Greivis Vasquez, with rookie Austin Rivers expected to get some time at point guard as well.

The biggest loser in the deal is Jack.

Coming off a career year with New Orleans, Jack goes from being a starter to backing up Stephen Curry in Golden State. The reduction in playing time will certainly hurt Jack's value when he hits free agency next summer.

Philly, meanwhile, adds yet another swingman to a roster that already has Andre Iguodala, Evan Turner and rookie Maurice Harkless. Wright was a bit of a disappointment last season, as his scoring dropped from 16.4 points per game in 2010-11 to 10.3 last year.

Wright's fate with the Warriors was essentially sealed once the team drafted UNC small forward Harrison Barnes with the No. 7 pick last month.

Bavcic was a 2006 second-round pick of the Toronto Raptors, but his rights were sent to Philadelphia on draft day. The 28-year-old forward has spent the past few seasons in Europe playing for teams in Bosnia, Italy and Ukraine. It is unknown when the 6'11" forward will be joining the Hornets.

The move from Jack to Vasquez as the starting point guard may hurt the Hornets slightly on the offensive end. However, Vasquez is a big point guard at 6'6" and gives the team a better pass-first option than the shoot-first Jack.

It also gives the team the chance to see if Rivers, the No. 10 overall pick in June's draft, can handle being an NBA point guard.

The trade is New Orleans' third in the past month. It agreed to send backup center Gustavo Ayon to Orlando in a sign-and-trade for forward Ryan Anderson. The Hornets also shipped forward Trevor Ariza and center Emeka Okafor to Washington last month in exchange for forward Rashard Lewis, who has since been waived.

The clearing of cap space allows New Orleans to be active next summer in a deep free-agent market, where it can add to a promising young core that includes Gordon, Rivers and No. 1 overall pick Anthony Davis.