The Cleveland Cavaliers have acquired restricted free agency forwards Lauri Markkanen from the Chicago Bulls as part of a three-team sign-and-trade transaction.
As part of the transaction, Markkanen agreed to a four-year, $67 million contract with the Cavaliers, league sources informed ESPN, The Athletic, and the Chicago Sun-Times on Friday. According to the reports, Cleveland is sending forwards Larry Nance Jr. to the Portland Trail Blazers in exchange for a 2023 second-round lottery pick from the Bulls.
The Trail Blazers are trading forward Derrick Jones Jr. and a lottery-protected 2022 first-round selection to the Bulls, ESPN reported.
Markkanen had been searching for a new team as a restricted free agent, and he will now join a reshaped Cavaliers lineup that includes No. 3 overall pick Evan Mobley and center Jarrett Allen. Markkanen averaged 13.6 points and 5.3 rebounds for the Bulls last season.
Since entering the NBA as the No. 7 overall pick in the 2017 draft, Markkanen has averaged 15.6 points and 7.1 rebounds over 221 career games (195 starts).
Nance averaged 9.3 points and 6.7 rebounds over 35 games (27 starts) for the Cavaliers last season.
Jones had averages of 6.8 points and 3.5 rebounds across 58 games for the Trail Blazers in the 2020-21 campaign.