Dotson, 27, is 6-foot-5 and spent the first three seasons of his career with the Knicks before joining the Cavaliers in 2020-21. He has averaged 7.5 points in 211 career NBA games.
Burns, 24, is 6-0 and went undrafted out of Colgate this past summer. He averaged 16.8 points, 5.3 assists and 4.3 rebounds as a senior last season.
Both players are expected to end up with the Austin Spurs of the G League.
Dotson signed a two-year deal with the Cavs last offseason, but never really found a rhythm, shooting just 29 percent on 3-pointers.
“Unfortunately for Dotson and the Cavaliers, he wasn’t able to find a rhythm as a perimeter shooter for the majority of the campaign,” wrote Dan Gilinsky of FanSided. “And whether it was it being more on-ball than he should’ve been ideally early, or just not hitting open looks, it was a rough year.”