The first-round pick that Milwaukee sent to the Cavs has lottery protections and might not convey until as late as 2024 because the Bucks owe a future first-rounder to the Phoenix Suns that might not convey until 2021.
Cleveland is reportedly trading George Hill and Sam Dekker for Matthew Dellavedova and John Henson, as well as protected first and second round draft picks for the 2021 season.
Dellavedova spent three seasons in Cleveland as a running mate of LeBron James, before signing a lucrative four-year US$38 million contract with the Bucks in 2016.
Hill helped the Cavs reach the Finals last season, but the team wanted to unload his contract while giving rookie Sexton more playing time.
"Everybody said he's a real good guy, a real good locker-room guy", he said.
In 12 appearances this season, Dellavedova is averaging 1.7 points, 0.8 rebounds and 2.4 assists per game. "They say he practices hard, too, so we're going to have some battles".
The 28-year-old was dealt by the Bucks in exchange for fellow point guard George Hill who is talented but oft-injured.
Henson recently underwent surgery to fix a torn ligament in his left wrist.
The Cavs chose to "work with (Smith) in regard to his future", as the team said back in November, after he made repeated comments indicating he wanted to be traded.
Smith, 33, is averaging career-lows of 6.7 points and 1.6 rebounds in 11 games this season.
"Both George and Sam Dekker went about their work here with professionalism and class and we wish them the best".
The six-foot-nine Dekker, originally drafted by the Houston Rockets in 2015, was acquired by the Cavs in a trade with the Los Angeles Clippers in August. In 215 career games (31 starts) with the Cavs, he averaged 5.7 points and 3.4 assists in 21.0 minutes per game.