Chicago Bulls: Lauri Markkanen sign-and-trade to Cavs officially done

Although we didn’t anticipate anything to interfere with the Chicago Bulls three-team sign-and-trade deal to dish out restricted free agent and fourth-year power forward Lauri Markkanen heading into the weekend, it’s good to hear the transaction officially getting done. Markkanen was able to be officially signed by the Bulls divisional foe Cleveland Cavaliers this weekend.

Markkanen to the Cavaliers was a big part of this three-team sign-and-trade deal that also involved the Bulls and Portland Trail Blazers. The Bulls sent out Markkanen to the Cavs, while forward Larry Nance Jr. went to the Trail Blazers, and small forward Derrick Jones Jr. came to Chicago.

Chicago Bulls sending Lauri Markkanen to Cleveland officially done

All of the draft capital involved in this sign-and-trade deal came to Chicago. The Bulls landed a future lottery-protected first-round draft pick from Cleveland and a future second-round draft pick from Cleveland.

In an official release from the NBA and the Cavaliers organization on Aug. 28, the team officially welcomed Markkanen to Cleveland. The Cavaliers were able to sign Markkanen down to a four-year contract worth a total of around $67 million ($16.25 million in average annual value).

That is a dollar amount that the Bulls likely weren’t willing to come close to paying Markkanen. And Markkanen didn’t want to return to the Bulls, even on a qualifying offer for one year, as he was seeking out a fresh start elsewhere heading into next season.

Nonetheless, this was a good deal for both Markkanen and the Bulls. Chicago finally got some draft capital in return, which is a big change in narrative for this organization since the trade deadline back on March 25.

And Jones is a player that the Bulls’ front office was interested in landing since last fall. He is a nice addition to this rotation for head coach Billy Donovan.

Moreover, Markkanen will still get to face his former team a ton next season. The Bulls open up the preseason slate at home at the United Center on Oct. 5 against Markkanen and the Cavs. That will be one of six meetings between the Bulls and the Cavs in the upcoming preseason and regular season slates.