According to reports, the Bulls will receive a 2018 first-round pick with light protections and center Omer Asik, while sending a second-round pick they acquired from the Pelicans in a previous trade back to New Orleans. Wojnarowski also notes that the Bulls will likely waive Allen and Nelson.
The first-round pick will be a protected top-five for the 2018 draft, but with the Pelicans sitting at 27-23 and in a playoff spot, they would have to have a catastrophic meltdown for that to come into play.
The Chicago Bulls traded veteran forward Nikola Mirotic to the New Orleans Pelicans on Thursday, finally completing a move that was rumored earlier in the week. Adding Nelson and Allen in the deal will reportedly allow the Pelicans to sign Greg Monroe, who recently reached a buyout with the Phoenix Suns. There really is no need for either one of them on this Chicago roster. He's averaging 16.8 points and 6.4 rebounds and shooting 42.9 percent from beyond the arc. It seems there are a handful of moves that would certainly benefit them both this year and in the future, but as is always said at the trade deadline, it takes two to tango.
Health has been a bigger issue for the Bulls (18-32), who visit Moda Center on Wednesday night to face the Portland Trail Blazers.
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Nikola has been with the Bulls since the 2014 season.
We'll update this post if any further details emerge. Per league rules, he had temporary no-trade rights because the team had not yet picked up his $12.5 million option for next season. His contract this season fit into a trade exception from the Butler deal, creating a new $12.5 million trade exception the Bulls have a year to use. Tellingly, when asked about waiving players, Paxson said a week remains until the February 8 deadline.
The Pelicans and Chicago Bulls almost swung a deal involving Mirotic earlier in the week, but it hit a snag because of Mirotic's contract. And that's in terms of how I would value the picks; in practice, it's generally more expensive to trade up, so from the league's perspective Chicago probably got the equivalent of something like the 25th pick for Mirotic. Coincidentally, the Bulls waived Pondexter to make room for the incoming players.