For Golden State this move is about saving money while keeping its title team roster almost fully intact. The only major loss is David Lee, who was traded to Boston for Wallace. Keeping Wallace would have cost more than just his salary (because of the NBA's luxury tax rules) so moving him cuts million for the upcoming season. Thompson has two years left on his deal (one less than Wallace) but makes about $3 million less in '15-16 than Wallace, hence the savings. Thompson also gives Golden State a much-needed proven backup center behind starter Andrew Bogut.

For the Sixers this trade gives them yet more draft options for their ongoing rebuild. As a team with significant cap space, Philly has the room to help more established squads with their luxury tax issues by taking on fat contracts like Wallace's. That said, it's unlikely Wallace--who now has the biggest salary on the 76ers--will play much of a role with Philadelphia; he may be waived.

Thompson gets a minor boost to his modest fantasy value, since he might play big minutes when / if the injury-prone Bogut is rested or otherwise sidelined. This probably bites into the sleeper appeal of Marreese Speights and Festus Ezeli. Meanwhile, Wallace is unlikely to have any fantasy value moving forward.