Wow.

In a shocking move Monday night, the Cavaliers, Thunder and Knicks pulled off a three-way trade that involves some of the NBA’s most talked-about guards.

Originally, the deal was said to include OKC point guard Reggie Jackson going to the Knicks. However, after some clarification, Jackson won’t be going anywhere. Here are the big takeaways you need to know about:

1) JR Smith and Iman Shumpert are going to the Cavaliers.

2) Dion Waiters is going to the Thunder.

3) The Knicks are (probably) tanking.

Here are the details as we currently understand them, via Yahoo! Sports’ Adrian Wojnarowski. What are your initial thoughts on the surprising blockbuster deal?

The Cleveland Cavaliers have reached an agreement in principle to acquire New York Knicks guards J.R. Smith and Iman Shumpert in a multi-team trade that also sends guard Dion Waiters to the Oklahoma City Thunder, league sources told Yahoo Sports.

 

Several less prominent players, including the Cavaliers’ Alex Kirk and Lou Amundson and the Thunder’s Lance Thomas, could be included in the deal.

 

The Knicks are expected to be come out of the deal with a future draft pick, sources said. The details of the trade are still fluid, but a trade call with the league is expected to take place later Monday night after the Cavaliers’, Knicks’ and Thunder’s games, sources said.