The Pelicans and Bulls pulled a humpty dumpty and put the Nikola Mirotic trade together again.
The initial deal appeared to fall apart because Mirotic used his veto power that automatically comes with being on a one-year contract and having Bird Rights at the end of it. So, the teams nullified Mirotic’s veto power by turning his one-year deal into a two-year deal by exercising his $12.5 million team option for next season now.
With Mirotic powerless to stop it (and getting his desired salary guarantee next season), he’ll go to New Orleans – primarily for a first-round pick and Omer Asik’s burdensome contract, but with Tony Allen, Jameer Nelson and other picks also changing teams.
Adrian Wojnarowski of ESPN:
Pelicans and Bulls have reached an agreement in principle on Mirotic trade, league sources tell ESPN.
— Adrian Wojnarowski (@wojespn) February 1, 2018
New Orleans is planning to guarantee the $12.5M salary of Mirotic in the 2018-19 season, league sources tell ESPN. That clinched a deal. Omer Asik and a future first-rounder part of package to Bulls, league source tells ESPN.
— Adrian Wojnarowski (@wojespn) February 1, 2018
Chicago could take one or two more minimum expiring players in the trade, which would help create roster space for Pels to sign Greg Monroe too, league sources tell ESPN. Bulls send a second round pick and the right to exchange seconds in the 2021 Draft with Pelicans.
— Adrian Wojnarowski (@wojespn) February 1, 2018
New Orleans is sending Chicago a 2018 first-round pick with "minimal" protections, league source tells ESPN.
— Adrian Wojnarowski (@wojespn) February 1, 2018
Pelicans guard Tony Allen will join Asik in the trade to the Bulls, league source tells ESPN.
— Adrian Wojnarowski (@wojespn) February 1, 2018
It is unlikely the Bulls will keep Tony Allen, league sources tell ESPN. He will likely be waived and become a free agent.
— Adrian Wojnarowski (@wojespn) February 1, 2018
Jameer Nelson will join the Bulls with Asik and Allen as part of trade, league sources tell ESPN.
— Adrian Wojnarowski (@wojespn) February 1, 2018
The Bulls will consider waiving Nelson too, league sources tell ESPN.
— Adrian Wojnarowski (@wojespn) February 1, 2018
K.C. Johnson of the Chicago Tribune:
Bulls are giving the 2nd round pick acquired in the Quincy Pondexter deal back to Pelicans, per source. Bulls get first-round pick from Pelicans. Option to swap 2nd-round picks in 2 or 3 years, per source.
— K.C. Johnson (@KCJHoop) February 1, 2018
The first-pick is protected top-5 in 2018, which @daldridgetnt had 1st, and top-8 in 2019, per source.
— K.C. Johnson (@KCJHoop) February 1, 2018
Shams Charania of Yahoo Sports:
Sources: Chicago plans to release forward Quincy Pondexter to create roster space for the Mirotic trade to New Orleans.
— Shams Charania (@ShamsCharania) February 1, 2018
The Pelicans were down a starting-caliber big after DeMarcus Cousins’ season-ending injury, and Mirotic will fill that hole. New Orleans clearly values protecting its two-game cushion for playoff position, and – in what has become a near-annual tradition – will deal its first-round pick to improve the present.
Mirotic is having a nice year, and his shot making – particularly while spacing the floor beyond the 3-point arc – should make New Orleans’ offense even more dangerous.
By acquiring a power forward, this pushes Anthony Davis toward center, a position he doesn’t particularly like to play. The physical pounding at center is substantial, and this increases Davis’ injury risk.
That’s why the protections on the first-round pick are important. Even at 27-23 so far, the Pelicans’ floor is somewhat low this season. Not only are there injury concerns, this team must adjust on the fly while effectively swapping Cousins for Mirotic.
Mirotic will probably welcome the challenge. He wanted to leave Chicago after a preseason practice fight with teammate Bobby Portis left Mirotic hospitalized. Mirotic returned and played well while saying the right things, and the Bulls are living up to their end of the bargain by trading him.
Asik – guaranteed $10,595,505 this season, $11,286,516 next season and $3 million of $11,977,527 the follow season – carries significant negative value. Taking him is a burden that improved Chicago’s draft return.
To lesser degrees, the same applies for Allen and Nelson, veterans who serve little purpose on the tanking/rebuilding Bulls.
Allen has been hurt, and Nelson has been ineffective. Though both are on just minimum contracts, New Orleans is perilously close to the luxury-tax line and hard cap. Dumping their salaries and clearing roster spots helps the Pelicans.
If Allen gets healthy, his defense could help a better team down the stretch. Likewise, Nelson could provide decent depth on a team short a point guard. Quincy Pondexter is probably finished.
In addition to waiving those three, I believe the Bulls would technically exercise Mirotic’s team option before the trade. If he consents based on the belief the Pelicans will do it, there’s a non-zero chance they renege. Having the option exercised first is the only surefire way for Mirotic to get his desired security.
New Orleans initially hesitated to accept Mirotic with a guaranteed 2018-19 salary in fear that’d make re-signing Cousins too expensive. The Pelicans will still have Cousins’ full Bird Rights and the ability to pay him up to the max, but they could cross the luxury-tax line, probably a no-go for ownership. But the luxury tax won’t be assessed until the end of the regular season. The way Mirotic has been playing, New Orleans might even be able to flip him for value before next season’s trade deadline.
