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The Chicago Bulls and New Orleans/Oklahoma City Hornets on Wednesday reached a verbal agreement on the widely expected trade that will send Bulls center Tyson Chandler to the Hornets for veteran forward P.J. Brown and swingman J.R. Smith.
NBA front-office sources told ESPN.com that the players involved have been notified that the deal will officially go through July 12, which is the first day NBA teams can officially complete signings and trades after the league announces the salary cap for the 2006-07 season.
The ability to deal away Chandler, who has five years and $54 million left on his contract, was crucial for the Bulls in their pursuit of Ben Wallace. They likely couldn't have offered Wallace as much as they did -- nearly $60 million over four years -- without receiving Brown's much friendlier contract in return.
The willingness to take on Chandler's contract, meanwhile, represents the third bold move from the traditionally quiet Hornets in the space of a week, after years of criticism endured by Hornets owner George Shinn for his reluctance to spend.
"It's my understanding that the trade is going to happen," said Mark Bartelstein, Brown's agent. "P.J. is very excited. He feels like the Bulls have an opportunity to compete for a championship. He really enjoyed his time with the Hornets, but he has so many fond memories of his days in Miami and contending every year that Chicago is a really good situation for him to get back to."
New Orleans/Oklahoma City commenced its aggressive summer makeover by offering Peja Stojakovic a five-year deal worth more than $60 million to entice the sharpshooting former All-Star to leave the Indiana Pacers. That was Saturday.
NBA front-office sources told ESPN.com that the players involved have been notified that the deal will officially go through July 12, which is the first day NBA teams can officially complete signings and trades after the league announces the salary cap for the 2006-07 season.
The ability to deal away Chandler, who has five years and $54 million left on his contract, was crucial for the Bulls in their pursuit of Ben Wallace. They likely couldn't have offered Wallace as much as they did -- nearly $60 million over four years -- without receiving Brown's much friendlier contract in return.
The willingness to take on Chandler's contract, meanwhile, represents the third bold move from the traditionally quiet Hornets in the space of a week, after years of criticism endured by Hornets owner George Shinn for his reluctance to spend.
"It's my understanding that the trade is going to happen," said Mark Bartelstein, Brown's agent. "P.J. is very excited. He feels like the Bulls have an opportunity to compete for a championship. He really enjoyed his time with the Hornets, but he has so many fond memories of his days in Miami and contending every year that Chicago is a really good situation for him to get back to."
New Orleans/Oklahoma City commenced its aggressive summer makeover by offering Peja Stojakovic a five-year deal worth more than $60 million to entice the sharpshooting former All-Star to leave the Indiana Pacers. That was Saturday.