One of the cornerstones of the Chicago Bulls' dreams of winning another NBA championship is moving on.
Dan Gilbert, the owner of the Cleveleland Cavaliers, confirmed in a tweet Monday night that the team had obtained the services of Bulls small forward Luol Deng.
"Welcome to the Cleveland Cavaliers!" Gilbert posted on his Twitter feed.
According to a news release issued by the Cavaliers, Deng was traded for center Andrew Bynum, three future draft picks and the right to swap 2015 first round picks with the Cavs.
Deng was in the last year of his contract, and the subject of numerous trade rumors during the season, particularly after Derrick Rose went down with another season-ending knee injury.
Deng, a native of Sudan, was drafted No. 7 overall by the Phoenix Suns out of Duke, but was immediately traded to the Bulls.
The two-time all-star has averaged 16.1 points, 6.4 rebounds and 2.5 assists per game in a Bulls uniform.
"We have great respect for Luol Deng, as a player and a person. He has been an incredible contributor to our team on the court, and he has also done great things in the community," Bulls GM Gar Forman said via a news release. "On behalf of the entire Bulls organization, I want to thank Luol for his years in Chicago."
The Bulls future draft pick comes via the Sacramento Kings (Sacramento's conditional regular first round selection in 2014, 2015, 2016, and 2017 otherwise, Sacramento's 2017 regular second round pick if it falls between 31-55).
Chicago also receives the Portland Trail Blazers' 2015 and 2016 regular second round draft picks, which were held by the Cavaliers. If Cleveland is not in the NBA Draft Lottery in 2015, the Bulls have the right to switch regular first round selections with the Cavaliers.
"The moves made today will put us in a better position to make the entire roster stronger for the future and to compete for a championship," Forman said.
Yahoo! Sports is reporting that the trade came after Deng rejected a 3 year, $30 million extension with Bulls last week.
Most observers believe the Bulls will cut Bynum in a salary cap move.
Bynum, 26, entered the NBA straight from high school in 2005 when he was drafted by the Los Angeles Lakers.
He won consecutive championships with the team before being traded to the Philadelphia 76ers after the 2011–12 season, but missed the entire season with a knee injury.
Bynum signed with the Cavaliers over the summer, and an injury-riddled season came to an end last month when he was suspended indefinitely for conduct detrimental to the team.
Bynum has career regular season numbers of 11.7 points, 7.8 rebounds and 1.6 blocks per game.