Smith is in his 15th season and making $14.7 million but has been reluctant to accept a buyout.
The Cavs wished Smith and his family well and thanked him for his contributions. When he was asked about wanting to be a part of the team moving forward, he said, "Not if the goal isn't to compete, to win".
However, Smith's support eroded some during last year's Finals when he lost track of the score in Game 1 and dribbled out the final seconds of regulation, depriving the Cavaliers a chance to steal a win.More news: Redskins’ QB Alex Smith Suffers Gruesome Leg Injury Vs. Texans
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While it took a month for the Cavs to honor Irving's request, he was traded to the Boston Celtics for Isaiah Thomas, Jae Crowder, Ante Zizic and a 2018 first round draft pick from the Brooklyn Nets (Collin Sexton).
Smith, who publicly accused the Cavaliers of tanking, has wanted out of Cleveland for some time. James revealed in an article The Athletic's Joe Vardon published Monday he implored Cavaliers general manager Koby Altman not to trade Irving, especially to the Celtics, their Eastern Conference rivals.
The Cavs are 2-13 and franchise player Kevin Love is out indefinitely following toe surgery. I don't think that's fair to the trainers or equipment guys.
When LeBron James left for the Los Angeles Lakers, the Cleveland Cavaliers put on a fearless face and said the plan was still to make the playoffs. "I appreciate lessons I've learned and I'm just ready to move forward".