Late last night the Cavaliers finished a deal that would send Andrew Bynum & his contract to Chicago and Luol Deng to Cleveland. The deal also included a first-round pick and a pair of second-rounders. The Bulls also have the option of swapping first round picks with the Cavs in 2015, as long as Cleveland does not fall in the lottery.
The Cavs have found a suitor to take Bynum and his contract and the Cavs have gained an All-Star small forward to take over the starting position. Recent reports showed that the Bulls were reluctant to move Deng, but when he declined a 3-year, $30M extension, they decided to get something rather than nothing for him.
It is believed that Bynum will be waived by today which will put Chicago under the luxury cap, saving them around $12M in the process.