Cavs acquire Dunleavy from Bulls, sources say

11:31 PM ET

The Cleveland Cavaliers have acquired veteran forward Mike Dunleavy from the Chicago Bulls, sources told

The trade was made to help facilitate the Bulls’ impending signing of Dwyane Wade. The Cavs will use a trade exception to acquire Dunleavy, 35, and also are likely to send a second-round pick or the rights to a player overseas, sources said.

Dunleavy, whom the Cavs chased in free agency last summer, was excited about the deal, sources said. He averaged 7.2 points and shot 39 percent on 3-pointers for the Bulls last season, in which he was limited to 31 games after back surgery.

LeBron James has long coveted the versatile Dunleavy as a teammate.

Meanwhile, forward Richard Jefferson announced via Snapchat on Wednesday night that he has agreed to a two-year deal to return to Cleveland. Jefferson, 36, had been contemplating retirement following the Cavs’ Game 7 win in the NBA Finals, but later changed his mind.

Chicago also shipped point guard Jose Calderon to the Los Angeles Lakers in another deal to clear salary-cap space Wednesday night, league sources told ESPN.

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