It’s happening.

The Utah Jazz are finalizing a trade that will send Donovan Mitchell to the Cleveland Cavaliers, according to league sources.

ESPN’s Adrian Wojnarowski was first to report the news on Thursday.

The Jazz will receive three unprotected first-round picks as well as two pick swaps to go along with Lauri Markkanen, Collin Sexton and the 2022 No. 14 overall pick, Ochai Agbaji.

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For the entirety of the offseason, the Jazz had been rumored to be shopping Mitchell. After the team traded Rudy Gobert in July, talks between the Jazz and potential trade partners for Mitchell intensified.

The New York Knicks had long been considered the frontrunner in negotiations, but the Jazz soured on the Knicks as a landing spot for Mitchell when New York was hesitant to include more than two unprotected picks in a deal.

The Cavaliers started pursuing Mitchell early on in the offseason, and the Jazz were intrigued by the idea of adding Sexton, who will sign a four-year, $72 million contract as a sign-and-trade part of the deal.

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The Jazz started out the offseason as a team that was deep in the luxury tax who couldn’t see a path to winning with their current roster and didn’t have the assets to turn things around. Now they are a team that is significantly younger with a mountain of future draft assets on which to build.

The Jazz acquired Mitchell on draft night in 2017 after the Louisville star was selected 13th overall by the Denver Nuggets. He quickly moved into the starting rotation and helped take the Jazz to five consecutive playoff appearances.

Mitchell holds career averages of 23.9 points per game, 4.5 assists and 4.2 rebounds. He made his first All-Star team in 2021 as a reserve and was selected as a reserve again in 2022.

This story will be updated.