Bynum signed a two-year, $24 million contract with the Cavs in July, but only $6 million of the $12.5 million he was scheduled to earn this season was guaranteed if he was still on Cleveland's payroll by Jan. 7.
Now the Bulls can waive him and earn that salary relief — their release in announcing the deal never mentions anything about Bynum playing for them — and position themselves for the future.
Chicago gets a future first-round pick that had belonged to Sacramento, along with 2015 and 2016 second-round picks Cleveland had obtained from the Portland Trail Blazers.
"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.
Bynum averaged 8.4 points in 24 games for the Cavaliers. He sat out all last season with Philadelphia because of knee surgery in his only season with the 76ers, but the way his contract was structured made him worth the risk for Cleveland.
But the Cavaliers suspended him on Dec. 28, excusing him from all team activities while they searched for a deal.
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