The new-look, superstar-laden Cavs have struggled to jell so far and part of the problem has been a lack of depth at shooting guard. Enter Smith and Shumpert, two proven players who can compete for starts at the 2-spot. Shumpert (once he recovers from a shoulder injury) provides excellent 'D,' while Smith brings instant 'O.' While Waiters may have more long-term potential than either of the two newcomers, Smith and Shumpert are probably more ready to contribute to a veteran powerhouse. Adding the possible first-rounder in 2015 (which is protected to No. 18 overall) is a nice bonus.

The struggling, rebuilding Knicks needed to do something to shake up team chemistry. This looks like addition by subtraction, since there appears to be a strong chance none of Amundson, Kirk, or Thomas will be kept on the roster (since all three have non-guaranteed contracts). Besides freeing up shots for young talents such as Shane Larkin, Tim Hardaway Jr., and Quincy Acy, this deal (along with the waiving of center Samuel Dalembert) opens up roughly $30 million for New York to spend in the next off-season. The second-round pick should help with the rebuild down the road, too.

Ever since Oklahoma City brass made the tough choice to trade superstar James Harden, the team's shooting guard spot has been a revolving door of role players and unproven prospects. While Waiters is far from established, he has the goods to be a star and a starter for a Thunder squad that already boasts one of the NBA's most talented young cores. Waiters additionally can play some point guard, which gives this team insurance if emerging combo guard Reggie Jackson leaves this summer. Additionally, protecting the 2015 first-rounder sent to the Knicks makes this a potential steal for the Thunder.

In the short term, the players most likely to get a fantasy boost are all on the Knicks: PG/SG Shane Larkin, SF/SG Tim Hardaway Jr., and SF/PF Quincy Acy. That's because Smith and Shumpert combined for 19.5 shots per game, and someone in New York needs to score. Also keep forgotten big man Andrea Bargnani in mind, assuming he can get healthy and play big minutes. In Oklahoma City, Waiters probably won't see his production change much at all (since he's joining a similarly star-heavy team), but his arrival does sap the fantasy value out of Reggie Jackson, Perry Jones, and Jeremy Lamb. The move should also result in Andre Roberson playing more forward from now on, rather than lining up at shooting guard. In Cleveland it's unlikely Smith or Shumpert will be as fantasy-worthy as they were in New York (since they now have LeBron James, Kevin Love, and Kyrie Irving ahead of them in the pecking order). That said, Smith should stay about as productive as usual. This move should also mean fewer starts for Shawn Marion at 2-guard. Expect him to get back to backing up regularly at both forward positions for the Cavs.