Cavaliers acquire Lauri Markkanen in three-team trade with Bulls, Trail Blazers
The Cleveland Cavaliers have acquired Lauri Markkanen in a three-team trade with the Chicago Bulls and Portland Trail Blazers, according to ESPN's Adrian Wojnarowski.
Markkanen will sign a four-year, $67 million deal as part of the move to Cleveland, Wojnarowski adds. The Bulls receive Derrick Jones Jr., the Trail Blazers' lottery-protected 2022 first-round pick and a 2023 second-round pick from the Cavs.
Larry Nance Jr. is headed to Portland to complete the deal.
Markkanen said earlier this month that he wanted to move on from the Bulls, saying, "I want a fresh start to my NBA career somewhere else."
The 24-year-old averaged 15.6 points and 7.1 boards on 36.6% shooting from deep over four seasons with the Bulls. Last season, he ended up being moved to the bench, losing his starting job to Daniel Theis after the trade deadline.
Executive vice president Artūras Karnišovas said in May that Markkanen was "an essential part of our team" whom he hopes "is a part of what we're building here," according to NBC Sports Chicago. However, things obviously changed later this summer.
Chicago is now $6.4 million below the luxury tax, with Jones' $9.7 million deal set to expire at the end of the 2021-22 season, according to ESPN's Bobby Marks.
The Cavaliers are $4.7 million below the cap and the Blazers are $1.3 million below the cap.
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