League sources told ESPN and The Athletic that the Cavaliers are receiving Alec Burks and two second-round draft picks in the swap. Korver played for the Jazz during the 2007-08 season through the 2009-10 season.
The 6-foot-7, 212-pound forward/guard is averaging 6.8 points, 1.8 rebounds and 1.1 assists this season. He appeared in 16 games this season for Cleveland.
Burks, 27, is averaging 8.4 points, 1.6 rebounds and 1.2 assists per game this season. He appeared in 17 games for the Jazz. The No. 12 overall pick in the 011 NBA Draft has played in Utah for the entirety of his eight-year NBA tenure.
Korver, 37, averaged 9.2 points, 2.3 rebounds and 1.2 assists per game during the 2017 season for the Cavaliers. He joined the Cavaliers as part of a 2017 trade with the Atlanta Hawks. The second-round pick in the 2003 NBA Draft has also suited up for the Philadelphia 76ers and Chicago Bulls during his 16-year NBA tenure.
He was an All-Star during the 2014-15 season with the Hawks and has led the league in 3-point percentage four times during his career.
Korver is under contract through the 2019-20 season.