The Boston Celtics and the Cleveland Cavaliers are helping each other out once again this offseason, as they will be exchanging a number of non-guaranteed contracts, including shooting guard Keith Bogans. According to Jeff Goodman, the Celtics will receive Dwight Powell, Erik Murphy, John Lucas III, Malcolm Thomas, and Cleveland's 2016 and 2017 second round draft picks. Boston will also get a trade exception worth $5.3 million.
Bogans will cash in again this season, assuming Cleveland holds onto him to use in a reserve bench role. Though he will be overpaid at $5.3 million, it'll be worth it in the long-run as Bogans and center Brendan Haywood will combine for over $16 million non-guaranteed next summer, allowing the Cavaliers to potentially bring in another impact player via trade or sign-and-trade.
Instead of just waving Bogans, the Celtics managed to get something instead of nothing. In addition to two future second round draft picks, they acquired Dwight Powell, who had a successful career as a do-it-all stretch forward at Stanford. He is likely just an overseas talent, but he has intriguing tools for a power forward and could develop into a solid role player. Powell was signed to a contract with the first-year guaranteed, which may increase his chances of making the 15-man roster.
Giving up Bogans, who was getting cut anyway, to take a flyer on a productive college player like Powell and a large trade exception is a win for the front office.
Boston waived wings Chris Johnson and Chris Babb after completion of the trade, but the roster is still currently at 22 total players. They must be at 20 players before training camp, which means Lucas III and Thomas, will likely be waived as well.
Here is my full scouting report of Dwight Powell from my 2014 NBA Draft Guide.