Sources told ESPN that Lauri Markkanen, Chicago Bulls restricted agent forward, was acquired by the Cleveland Cavaliers as part of a sign-and-trade deal with three teams. The contract is for four years and will cost $67 million.
Sources said that Larry Nance Jr. will be sent forward by the Cavaliers to the Portland Trail Blazers, and a 2023 second round pick via the Denver Nuggets, to Chicago as part of the trade.
Sources said Portland traded forward Derrick Jones Jr. and a 2022 lottery-protected first-round pick to Chicago.
Markkanen (24), had been looking for a home as a restricted-free agent and now arrives with a revamped Cavaliers roster that includes No. Evan Mobley, the third overall pick, and Jarrett Allen (center), are now owners of a $100 million contract extension. In a sign and trade, the Bulls purchased DeMar DeRozan from San Antonio. Last season, Markkanen averaged 13.6 ppg and 5.3 rebounds.
Nance is a versatile defensive player and will have a major impact on a Portland team that wants to improve its defense under new coach Chauncey Blups.
The Bulls bring back two draft picks to a player they no longer consider part of their future plans. The protected pick Nos. is the Blazers' first round pick in 2022. It would be a second-round selection if it wasn't already sent to Chicago.