Cavaliers acquire Deng from Bulls for Bynum and picks

In a deal announced last Monday night, the Cleveland Cavaliers have come to terms with the Chicago Bulls on a deal that will send All-Star forward Luol Deng to the Cavs for Andrew Bynum and a draft pick. ESPN’s Brian Windhorst confirmed the story as did Cavs owner Dan Gilbert.

It is expected that Bynum will be released before 5:00PM on Tuesday before his $12.3M contract becomes guaranteed. This move will save the Bulls over $15M in salary and taxes and bring them below the salary cap.

The draft picks Cleveland is sending is a first round top 10 protected pick through the next two drafts from Sacramento, and two second round picks from Portland in 2015 and 2016. The Bulls will have the right to swap picks with the Cavs in 2015, but that pick will remain lottery protected.

This trade immediately reshapes the eastern conference and while it may not dramatically change the final outcome, it sure just made the playoff picture a little clearer. This also gives Bynum the freedom to sign with whatever team he choses.

Amazing trade. Just… wow.

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Source: Luke Adams; HoopsRumors

Source: Brian Windhorst; ESPN