The Oklahoma City Thunder have acquired guard Randy Foye from the Denver Nuggets in exchange for point guard D.J. Augustin, forward Steve Novak and two second-round picks in 2016, the teams announced.
The deal adds guard depth in the Thunder backcourt with Foye, a career 37 percent 3-point shooter, while also saving Oklahoma City a considerable amount in future luxury tax penalties. It also generated a $3.8 million trade exception, which expires in one year, for the Thunder.
The Nuggets will receive the Thunder's and Charlotte Hornets' second-round picks in this year's draft.
Sources told ESPN.com's Marc Stein that the Nuggets have consented to work with Novak -- as well as forward JJ Hickson after shopping Hickson unsuccessfully before Thursday's deadline -- on contract buyouts that will make both players free agents in the coming days.
As long as Novak and Hickson are released by the Nuggets by March 1, they will be eligible to play in the 2016 playoffs with their next team.
Foye is averaging 6.0 points and 1.9 assists, and shooting 35.1 percent from the field and 29.6 percent from 3-point range in 54 games this season.
By dealing the expiring contracts of Novak ($3.7 million) and Augustin ($3 million), the Thunder reduce their pending bill by about $8.3 million.
With the total savings, the Thunder also could be contenders in the post-deadline buyout market, with the ability to use their taxpayer midlevel exception to outbid other teams.
Augustin, 28, was relegated to third-string point guard by rookie Cameron Payne, who took over as Russell Westbrook's backup in December. As a veteran on an expiring deal, Augustin was looking for more playing time in a contract year.
In 34 games this season, Augustin is averaging 4.2 points and 1.9 assists in 15.1 minutes. He will be joining his seventh team in eight seasons.
Novak, 32, is averaging 2.4 points in seven games this season. The Nuggets will be his ninth team in 10 seasons.
In other deals:
ESPN's Marc Stein, Brian Windhorst, Chris Broussard and Nick Friedell contributed to this report.