I'm not sure this guy qualifies. He played less than 200 minutes in a Cavs uniform. But the Cavs did trade a first-rounder for him (and had to waive protections on another), so he definitely cost the team some assets, and accordingly came in with expectations that were soon crushed.
I give you:
Jiri Welsch - The Anti-Korver
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Time to duck for cover, fans sitting in the rows behind the basket..
The 2004-05 Cavs got off to a strong start, but were sputtering as the trade deadline neared. The franchise's first playoff spot in several years hung in the balance. GM John Paxson knew that he needed to give his team a shot in the arm. A dead-eye shooter who would help the team's poor outside shooting. A player who could get the Cavs to the postseason.
And since he couldn't find such a player, Paxson gave us Jiri Welsch.
Paxson traded a first-round pick to the Celtics for Welsch. (The Cavs also had to relinquish protections on a first-rounder that they had originally sent to Phoenix for Wesley Person sometime during the Carter Administration.) Tragically, Welsch suffered a death in his family (his outside shot) en route to Cleveland, and was lucky to find the rim, much less the bottom of the net. After a disastrous 16 games with the Cavs, Welsch was traded to Milwaukee for a second-round pick (used to select Lior Eliyahu) the following summer. Eliyahu never suited up in the NBA, yet somehow the Cavs came out the winners in that trade. But it was far too late, as the damage had been done.