As far as the Cavaliers are concerned, this plays into their mindset of rebuilding.
The Washington Wizards entered the mix as the third team in the deal, acquiring Sam Dekker for Jason Smith and a future second-round pick.
Dellavedova spent three seasons with the Cavs, including their championship season in 2016.
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Louis Cardinals for a package that includes starting pitcher Luke Weaver and top catching prospect Carson Kelly . After going 7-2 with a 3.88 ERA, Weaver followed that up with a record of 7-11 and an ERA of 4.95.
The deal came together Friday in time for teams to be able to re-package players in other trades before February's trade deadline.
The deal potentially could save the Bucks about $19 million next season if they don't keep Hill, who has only $1 million of a $19 million deal guaranteed. The acquisition of Dellavedova is icing on the cake, considering he was a major fan favorite who helped lead the franchise to their lone National Basketball Association title in 2016.
The 28-year-old Dellavedova will get a chance re-start his career with the Cavs. Hill is averaging 10.8 points per game, three assists and two rebounds per game this season on 51 percent shooting.
Henson recently underwent surgery to fix a torn ligament in his left wrist. In 12 games this year with the Bucks, Dellavedova was averaging 1.7 points and 2.4 assists. With the Cavs rebuilding and playing rookie Collin Sexton a lot, there was no point to have Hill on the roster.
The move will save the Bucks almost $20 million in salary next season, Wojnarowski added.