LIVE: Cavs GM Chris Grant press conference

Follow along for updates during Cavs GM Chris Grant's news conference discussing the trade of Mo Williams and Jamario Moon for Baron Davis and a first-round draft pick from the Los Angeles Clippers.

Opening statement
"We'd like to thank Mo and thank Jamario. Great deal of respect for both of them and to their families. One thing all of us tend to forget in this business they all have families and kids and have to go to school. We respect what they did for this franchise. Took us to some high levels."

"Our scouting department just got a little busier, which is a good thing."

On Byron and Baron's relationship:
"No concern. Byron and I have talked about this throughout the entire process. Byron is totally on board."

On buying out Baron:
"We're keeping him. We're excited about the player."

Who's the starting PG?:
"We haven't even gotten into who's going to start and who's going to come off the bench."

On ownership:
"There's not a lot of guys in profesional sports who would step up to this level

Trade exception:
"The day is not quite still young, but there's a few more hours. Generally big deals like that don't go down in two or three hours. We'll see what happens the rest of the day."

Done today?:
"I don't know. Do we have some stuff on the board? Yeah. Will it come to fruition? I don't know yet."

Timeline:
"It's something we've talked about for the last week or so, but it didn't really get serious until about 6:30 last night, right before tip-off. We came to an agreement right around 1:30 in the morning around the 19th shot of Espresso."

Weak draft class:
"We can't talk about prospects publicly. When you look at a draft in general, usually there's 10 to 15 good players. We tell our scouts go figure out who those guys are. It's easy to figure out Durant and LeBron, but figuring out the bottom end is a tougher challenge. ... Some drafts have superstars and some don't. We won't know how good this draft is until three years from now."

Worry about small markets like CLE competing in NBA:
"I'm not sure I can answer that from a collective bargaining standpoint. I feel great about this place. Every guy we bring into this building, everyone who comes to the arena with our fans ... our guys love living here. Guys still live here because their best memories are living here and being around our fans. Look at how teams are built historically, most teams are built through the draft and trades. Free agency is a supplemental piece."

That's it, folks. More to come from Byron/player reaction later.