The Chicago Bulls have traded Kyle Korver to the Atlanta Hawks in what looks like a sign-and-trade for Kirk Hinrich. (Mandatory Credit: Paul Abell-US PRESSWIRE)

Kyle Korver Traded to Atlanta Hawks for 2nd Round Pick

If you had been following the Bulls even little bit over the past week, this latest bit if news isn’t much of a surprise, but it’s nevertheless one of the biggest moves the Bulls have made all offseason long.

And that’s trying to say Kyle Korver is a big deal here.

But after an offseason thus far of laying dormant, the Bulls have pulled the trigger on a trade that will ship Kyle Korver to the Hawks for a second round draft pick.

It was initially speculated that the trade would be a sign-and-trade for Kirk Hinrich which would free up the Bulls mini-mid level exception and give them $3 million to play around with (pause for laughter) in free agency.

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The selling point for the Bulls is that they are now off the hook for Korver’s $5oo,000 on his $5 million non-guarnteed contract. That’s huge for the Bulls and it’s the reason they wanted to deal him. So far Chicago has been badly strapped for cash and they’re in such a stingy mood, they don’t even want to pay half a million to buy Korver out — they’d rather trade him.

This move means the Bulls are serious about matching Houston’s $25 million offer sheet on Omer Asik, which is set to be signed sometime tomorrow, thus starting a three day clock. Once signed, the Bulls have 72 hours to match the offer sheet or let Asik walk to Houston without compensation.

It was expected that three contracts would be gone this offseason and the first two went quietly in Ronnie Brewer and C.J. Watson.

But there was some drama about Korver. The Bulls wanted to keep him for his scoring ability but the price was too high and they apparently value Asik and his size over Korver and his offense.

If the Bulls match they’ll owe Asik $10 million over the next two seasons and then $15 million on the third and final year of the offer without the ability to restructure the deal. Chicago can however trade Asik before the end of the third year on his deal and not have to pay him or have it count against the luxury tax.

But sadly the thing to take away from this trade is it’s the biggest move the Bulls have made all offseason long and given the championship caliber pieces involved, that’s truly a sad fact.

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