After two day delay, Bulls will trade Nikola Mirotic to the Pelicans

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Coincidentally, the Bulls acquired Pondexter and the second round pick that they're now sending to New Orleans in a trade with the Pelicans previous year. Wojnarowski also notes that the Bulls will likely waive Allen and Nelson.

Like before, the Bulls will get a 2018 first round pick from New Orleans along with center Omer Asik.

The Chicago Bulls traded veteran forward Nikola Mirotic to the New Orleans Pelicans on Thursday, finally completing a move that was rumored earlier in the week. This will be the big man's second stint with Chicago; he played for them from 2010-2012, his first two seasons in the league. He was making $17.8 million in the final season of a three-year, $50 million deal.

John Paxson the executive vice president of the Bulls said he is pleased with whom Chicago received for Mirotic and confident the deal was the best that has presented itself.

Whatever the case, the fact of the matter is that the hottest trade rumor relating to the Utah Jazz has been officially snuffed out.

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Rather than spending the summer working out with the rebuilt young Bulls, Mirotic - then a restricted free agent - made the decision to work on his body. The Bulls looked like the worst team in the league at the start of the season. This echoes their decision to give a first-rounder back to the Timberwolves in the Jimmy Butler trade.

We'll update this post if any further details emerge.

Mirotic did not want to be in Chicago, and frankly, his strong play this season was not helping the Bulls. Tellingly, when asked about waiving players, Paxson said a week remains until the February 8 deadline.

Maybe Bulls management wonks believed Mirotic desperately wanted to bolt Chicago after suffering a concussion and broken facial bones as a result of Bobby Portis' punch and subsequent demand that the team trade him or Portis. Once the team option was exercised, Mirotic no longer owned power to veto the deal. The Bulls also waived forward Quincy Pondexter to create the needed roster space to acquire two extra players in the trade.

Nelson and Allen each signed one-year deals in the offseason and are potential buyout/waiver candidates.