(CBS) The Bulls have cleared more cap space by trading reserve forward Anthony Randolph to the Magic, sending along two second-round picks so that Orlando will absorb the $1.825 million left on the final year of his contract, according to multiple reports. Chicago will receive Milovan Rakovic, the Tribune's K.C. Johnson reported.
[tweet https://twitter.com/KCJHoop/status/488799792307658752 width="340"]
The move will open up about $1.3 million of cap space for Chicago, assuming it would fill Randolph's spot with a young player on a minimum contract.
By all appearances, that money is needed to go toward new signees Pau Gasol and Nikola Mirotic. Gasol's contract is reportedly three years and $22 million-plus, while Mirotic's is reportedly three years and $17 million.
Prior to the Randolph trade, if the Bulls were to use the amnesty provision on Carlos Boozer -- which is a foregone conclusion if they don't find a surprising trade partner by Wednesday -- they were projected to have between $10 million-$11 million in cap space. That wouldn't quite be enough to pay Gasol and Mirotic while staying under the cap, so that's a logical reason why Randolph had to be moved.
Reserve big man Greg Smith was also officially traded to the Mavericks on Monday. He is owed $948,163 next season, so that will help clear a little space as well. The Bulls received 6-foot-9 forward Tadija Dragicevic in the deal. He's been playing in Europe and has never appeared in an NBA game.
for more features.