The Cleveland Cavaliers have acquired stretch four Channing Frye from the Orlando Magic in a three-team trade with the Portland Trail Blazers before the NBA trade deadline on Thursday.

Frye and a future second-round pick from Portland go to the Cavs, Cleveland gave up Jared Cunningham and a 2020 second-round pick to the Magic, while the Blazers received center Anderson Varejao and a future first-round pick from Cleveland.

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Even though the Cavs gave up a lot of assets including two future picks to pull off the deal, they are still considered as the big winners in the said trade as they snagged the 32-year-old Frye, who will be a great veteran addition to the squad especially as they contend for the NBA championship anew this coming postseason.

USA Today noted that Cleveland used the $10.5 million trade exception they earned in trading Brendan Haywood to the Blazers last summer to "absorb Frye's $8.2 million salary" this season. The former Arizona standout is in the second year of the four-year, $32 million deal he signed with Orlando before the 2014-2015 season.

Frye is shooting almost 40 percent from the three-point area this season and could certainly be used by LeBron James and company to create space in the offense, which makes him an ideal backup to Kevin Love.

Bleacher Report noted that the Cavs have struggled in releasing Varejao as he is one of the most beloved players in Cleveland.

Cavs GM David Griffin released an official statement regarding Varejao's exit, saying that "Anderson is a special player, teammate and person. Few players have earned the respect, support and admiration of an entire organization, fan base and community as Andy did here. Those are all things that made this a difficult deal to do".

Griffin explained, though, that the franchise has a "deep obligation" to reach its ultimate goal of winning a championship for the city and sending Varejao to Portland positions the team "better in the future".

Tags NBA trade news, cleveland cavaliers, Channing Frye, orlando magic, Portland Trail Blazers