http://sports.espn.go.com/nba/draft2011/news/story?id=6603100

In the trade being discussed, Cleveland would absorb Detroit's Rip Hamilton into the $14.6 million trade exception it received in last summer's LeBron James sign-and-trade with Miami, while also receiving the Pistons' No. 8 pick. The Cavaliers would then send that pick, along with their fourth pick, to Minnesota for the Timberwolves' second pick.

Cleveland would then buy Hamilton out of the two years, $25 million remaining on his contract, leaving the veteran shooting guard free to sign with another club as a free agent. Chicago would be one of the likeliest destinations.

Cleveland nearly traded for Hamilton at the February trade deadline with the intention of buying him out. In that scenario, Hamilton would have signed with Chicago after the buyout. The motivation for Detroit, which has been looking to move Hamilton for years, is mainly financial.