This would have to be done as two separate trades and only after a restriction on Turner expires on Dec 28 (based on what I think the trade machines were trying to tell me):
Wright for Waiters, Turner for Haywood and Memphis pick.
Summary:
Wright and Turner
for
Waiters, Haywood, Memphis Pick
Clev gets the big that they need and also get Turner to play veteran minutes at SG and SF (and maybe a little PG if they want to experiment with that). I think Turner would be an upgrade over Waiters at least in terms of versatility.
We get Waiters, a promising player who has not fulfilled his promise but seems like a better timeline for this team than Turner. Then we also get a pick and an expiring/non-guaranteed contract that is supposed to have some trade value next season.
I think this works because we likely lose Wright this off season anyway but you also have to see more value in Waiters than Turner, which I suspect will not be the case with everyone. I see it as Turner is more of a veteran and has more immediate value to Cle but Waiters is younger (23 vs. 26) and may have more upside for us.