The Cavs and Boston Celtics confirmed the deal on Thursday when the NBA moratorium on signings ended.
Cleveland sent guard Jarrett Jack and swingman Sergey Karasev to Brooklyn and center Tyler Zeller and a first-round draft pick to Boston. Cleveland acquired a future conditional second-round pick from the Celtics and the draft rights to forwards Ilkan Karaman and Edin Bavcic from the Nets. The Celtics will get guard Marcus Thornton -- and his expiring $8 million contract -- from the Nets.
The deal, first reported on Wednesday, is designed to give the Cavs enough room under the salary cap to offer James, the four-time league MVP, a maximum contract ($20.7 million).