The Bucks have a lot of talent in their young backcourt but also a lot of question marks, and 'Delly' can help them stabilize their guard rotation. He's a hard-working, savvy veteran who can play either guard spot, and he's also a clutch winner. Doing the 'sign-and-trade' deal helps Milwaukee pay restricted free agent Dellavedova as much as possible (since Cleveland can technically re-sign him at a higher rate than other teams, which it does here before unloading that new contract).

The Cavs are already under major pressure to cut payroll from their championship squad, and they simply couldn't afford to match Milwaukee's offer sheet to RFA Dellavedova. The sign-and-trade helps them get something in return for a solid rotation player, and also helps them with the bottom line (since the trade exception allows them--over the next year--to acquire another player for up to $4.8 million without sending the same amount of salary the other way, the latter being the usual case in NBA deals). Miralles was later traded to Chicago in the Mike Dunleavy deal.

With rotation regular O.J. Mayo now banned from the NBA, Dellavedova takes his place in the Bucks pecking order. In other words, expect him to compete for starts at shooting guard with young Rashad Vaughn, and to get some backup looks behind Giannis Antetokounmpo at point guard. It's unclear what the trade means fantasy-wise for the remaining players in Cleveland, since the Cavs are still sorting out significant parts of their roster.