(CBS) The Bulls have cleared more cap space by trading reserve forward Anthony Randolph to the Magic, sending along two second-round picks so that Orlando will absorb the $1.825 million left on the final year of his contract, according to multiple reports. Chicago will receive Milovan Rakovic, the Tribune’s K.C. Johnson reported.
As the Bulls keep clearing space, I'm told they'll send Anthony Randolph and two second rounders to Orlando. Randolph expected to be waived.—
Sam Amick (@sam_amick) July 14, 2014
In Randolph deal, Bulls get draft rights to Milovan Rakovic (who I've never heard of either). Magic get better of Bulls' 2nds in 15 & 16.—
K.C. Johnson (@KCJHoop) July 14, 2014
The move will open up about $1.3 million of cap space for Chicago, assuming it would fill Randolph’s spot with a young player on a minimum contract.
By all appearances, that money is needed to go toward new signees Pau Gasol and Nikola Mirotic. Gasol’s contract is reportedly three years and $22 million-plus, while Mirotic’s is reportedly three years and $17 million.
Prior to the Randolph trade, if the Bulls were to use the amnesty provision on Carlos Boozer — which is a foregone conclusion if they don’t find a surprising trade partner by Wednesday — they were projected to have between $10 million-$11 million in cap space. That wouldn’t quite be enough to pay Gasol and Mirotic while staying under the cap, so that’s a logical reason why Randolph had to be moved.
Reserve big man Greg Smith was also officially traded to the Mavericks on Monday. He is owed $948,163 next season, so that will help clear a little space as well. The Bulls received 6-foot-9 forward Tadija Dragicevic in the deal. He’s been playing in Europe and has never appeared in an NBA game.