CLEVELAND -- The Cleveland Cavaliers have acquired Luol Deng from the Chicago Bulls in exchange for Andrew Bynum, a future first-round pick and a pair of second-round picks, the team announced early Tuesday morning.
The Bulls also have the opportunity to swap first-round picks with the Cavs in 2015, but it is lottery protected for the Cavs and the swap rights expire after the 2015 draft.
The Bulls are expected to waive Bynum immediately and save about $15 million in luxury taxes.
The deal is a clear sign the Bulls have given up on the season following another season-ending injury to Derrick Rose, while the Cavs are charging ahead for a playoff berth despite beginning Tuesday 13th out of the 15 teams in the East.
Deng is averaging 19 points and 6.9 rebounds this season. He is a huge upgrade at small forward, which has remained the Cavs' weakest position for the last 3 1/2 seasons. He is making $14 million and will be a free agent after the season.
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