TPE = traded player exception, and Bucks have a $7.2mil TPE. Bucks get CP3 to spend a season with KPJ and Rollins.

In turn, Spurs get a $7.2mil TPE to take into the season. They also get the final 55-60 positions on the Utah 2nd rounder, because Bucks got to give up something to make it a 'trade' for this sign-and-trade.

Of course, I am curious about more substantive sign-and-trades with CP3, something more interesting than adding a guard who is a good shooter to the bench.