The Houston Rockets have reportedly traded Michael Carter-Williams to the Chicago Bulls.
Adrian Wojnarowski of ESPN reported the development on Monday morning, adding that the Rockets have handed Chicago cash and will send a future, second-round pick their way.
The player is also expected to be waived as his $1.76 million contract would have been fully guaranteed if he wasn't cut by 5 pm on Monday.
Chicago will send a future conditional second-round pick to complete deal, source says. Salary cap move for the Rockets, who would've had to guarantee Carter-Williams deal for the season by 5 PM today. https://t.co/sNhb4SkttB— Adrian Wojnarowski (@wojespn) January 7, 2019
"The Houston Rockets traded guard Michael Carter-Williams and cash to the Chicago Bulls in a salary cap maneuver, league sources told ESPN.
"The Bulls will waive Carter-Williams, whose contract would've become guaranteed for the season on Monday afternoon, league sources said.
"Chicago also will send Houston a heavily protected future second-round pick that is unlikely to ever convey, sources said."
- Adrian Wojnarowski, ESPN
The move will also save the Rockets $2.6 million in luxury tax and their bill will drop from $16.3 million to $13.7 million.
Wojnarowski has also reported that the Bulls are set to waive MarShon Brooks as well, having only recently acquired the player in a trade deal from the Memphis Grizzlies, one that saw Justin Holiday go the other way.
Chicago will waive Michael Carter-Williams, league source tells ESPN. His contract would become guaranteed for season at 5 PM today.— Adrian Wojnarowski (@wojespn) January 7, 2019
What This Means
Carter-Williams, who was drafted by the Philadelphia 76ers in 2013, was the Rookie of the Year after completing his first season. He has since become a league journeyman who has made stops in Milwaukee, Chicago, Charlotte and Houston over the course of the last four years.
He only appeared in 16 games for the Rockets this season, averaging 4.3 points and 1.3 assists in 9.1 minutes per game. He also hadn't played since December 19.
The Bulls are looking towards a rebuild but obviously don't view the former Rookie of the Year as someone who could improve their side and will cut him right away to help with their roster flexibility.