It's a hard day if you're a fan of the Cleveland Cavaliers, or just the game of basketball. Ricky Rubio, one of the greatest playmaking guards of his generation, announced his retirement on Twitter in the wake of news breaking that the Cavs and Rubio had agreed to a buyout of his contract. When healthy, Rubio was a spark plug for Cleveland, giving the Cavs a consistent backup behind Darius Garland and played a key part in the team going from a hopeless rebuild to a hopeful contender.

Unfortunately, injuries took their toll on Rubio and his game, and he became a liability for Cleveland against the New York Knicks last postseason. The Cavs were more than patient with Rubio, allowing him to focus on his mental well-being and what he wants to do next with his basketball career. Unfortunately, the uncertainty about Rubio's future eventually led to Cleveland exploring the trade market, looking for an upgrade on the roster spot the absent Rubio held. Sources tell ClutchPoints that opposing front offices were asking for far more than the Cavs were comfortable giving up to take on Rubio's remaining contract. With Rubio's trade market bearing no fruit, Cleveland bought out Rubio's remaining salary, leading to the Spanish point guard's retirement from the NBA.

Looking ahead, the Cavs now have two open roster spots and a bit more breathing room financially to make moves to improve their roster. It's still unclear how much money Rubio left on the table in negotiations with Cleveland. However, at the time, Rubio had $3.5 million remaining (out of $6.1 million) on his contract for this season and $4.25 million guaranteed for the 2024-25 campaign. So, knowing that and considering that the Cavs were $752,000 below the luxury tax threshold and Rubio likely left some money on the table, the wiggle room still feels small but gives a bit of a vision as things advance on Cleveland's upcoming moves.

The first major move is something the Cavs can handle in-house now that they have an open roster spot. According to multiple sources, undrafted rookie Craig Porter Jr., who is currently on a two-way deal with Cleveland, will likely be converted to a standard NBA contract around the time of the annual trade deadline. Porter Jr. has stepped up in his rookie season, running the offense to perfection whenever the Cavs were without Darius Garland and Donovan Mitchell. Cleveland's rookie guard has earned the trust of his teammates and coaching staff and, from now on, is entrenched as Garland's primary backup, replacing the role originally held by Rubio.

Meanwhile, on the trade market, it's clear that Cleveland needs players in a similar mold to forward Georges Niang. By that, the Cavs need bigger wing-type players who are comfortable playing either forward position but are even more comfortable taking (and making) as many wide-open attempts on the perimeter as possible. With Rubio's contract now unavailable, it is more of a squeeze for Cleveland to make moves to satiate that need, with forward Dean Wade being the most attractive and available trade chip.

Who could the Cavs target in a trade?

Royce O’Neal. Danillo Galinari as a silhouette with question marks inside him

One move the Cavs could pursue could involve Cleveland sending Wade, Ty Jerome, and a future second-round selection to the Brooklyn Nets for Royce O'Neale. Or the Cavs could offer the same package with Damian Jones and an additional second-rounder to the Washington Wizards for Danilo Gallinari and Corey Kispert Jr. to satiate their needs. Something simpler would have Cleveland sending Wade and his eventually non-guaranteed contract to the Memphis Grizzlies for Jon Konchar, giving Memphis some relief with their roster crunch. Finally, the Cavs could swing for the fences and talk shop with the Eastern Conference-leading Boston Celtics, offering up Wade and a second-rounder for Sam Hauser.

Finally, if there are still any open roster spots, the Cavs can look at any free-agent veterans they want to add to their roster. Either way, there are options out there for improvement, but Cleveland has to remain dynamic instead of static in the wake of the Rubio news. The need for a backup point guard has been answered with Porter Jr., but there's still a need for additional shooting on the perimeter. Things will continue to heat up as it gets closer to Feb. 8 and the best thing to do is buckle up and get ready for the show.