After on-again-off-again talks with the Los Angeles Lakers for big man Pau Gasol, the Cavs instead sent Bynum to the Chicago Bulls for small forward Luol Deng late Monday, FOX Sports Ohio sources confirmed.
In addition to Bynum, the Cavs sent a protected first-round draft pick obtained from the Sacramento Kings in 2011, as well as their 2015 and 2016 second-round picks, obtained from the Portland Trail Blazers.
Also, the Bulls earned the right to swap their 2015 first-round pick with the Cavs’ pick — provided the Cavs’ pick falls between 15 and 30 overall.
"We have worked to acquire and maintain flexibility in order to capitalize on opportunities such as this," Cavs general manager Chris Grant said in a prepared release. "Luol reflects all that we are striving for in building our team."
The Cavs had until Tuesday at 5 p.m. Eastern to trade or waive Bynum. Without such a move by that deadline, they would’ve had to play his full $12.25 million salary. Instead, he was due just half.
The Bulls’ plan for Bynum are unclear, although sources believe he will be waived, clearing more space under their own salary cap.
Yahoo! Sports reported the Bulls offered Deng, a free agent at season’s end, a $30 million extension. When Deng turned down the offer, the Bulls decided it was time to part ways.