(CBS) The Bulls on Thursday acquired wing Quincy Pondexter from the Pelicans, according to multiple reports.

The move is a salary dump for New Orleans, which will also send a 2018 second-round pick to Chicago, CSN Chicago’s Vincent Goodwill reported. The 29-year-old Pondexter is owed $3.85 million in the final year of his contract. The Bulls have ample room to absorb Pondexter’s contract, in the form of cap space or a $15 million trade exception that was acquired in the deal that sent Jimmy Butler to the Timberwolves, whichever they choose.

Pondexter has missed the entirety of the last two seasons because of serious left knee injuries that necessitated three surgeries. He’s a career 36.5 percent 3-point shooter.

Pondexter doesn’t project to be a member of the rotation as the rebuilding Bulls turn their attention to developing young players. It’s unclear whether they intend to even keep Pondexter or waive him.