Re: Bynum to Bulls for Deng and 2014 Draft Pick
posted at 1/7/2014 1:53 AM EST
some additional news from hoopsrumors.com ....
The Bulls will also have the right to swap first-rounders with the Cavs in 2015, but only if Cleveland’s pick doesn’t fall in the lottery, tweets Lloyd.
While the Cavs will surrender a handful of draft picks in the deal, the move fills a giant need for the team, with Deng assuming a starting small forward role that has changed hands several times since LeBron James left for Miami in 2010. The Cavs also found a taker for Bynum, who had fallen out of favor in Cleveland, and was being shopped to the Lakers and Jazz, among other teams. So for now, Pau Gasol and Richard Jefferson will remain in L.A. and Utah, respectively, though both veterans are on expiring deals and could be involved in more trade rumors before February 20th’s deadline.
As for the Bulls, several recent reports had indicated that the team was reluctant to move Deng, still believing that he could be re-signed next summer. However, according to Adrian Wojnarowski of Yahoo! Sports (Twitter link), the 28-year-old turned down a three-year, $30MM extension offer from Chicago last week, which was a prelude to this trade. The deal gives the Bulls the opportunity to dip below the tax this season and to add future assets, as well as greatly increasing the odds that the club will land a prime spot in the 2014 draft lottery.
Assuming the Bulls officially waive Bynum on Tuesday, as ESPN Chicago’s Nick Friedell confirms they will (Twitter link), the team will shed $8.275MM in payroll by paying Bynum’s $6MM guarantee rather than Deng’s $14.275MM salary. According to ShamSports’ salary figures for Chicago, that would reduce team payroll to about $71.01MM, giving the club a little breathing room below the $71.748MM luxury tax line.