The three-team trade that sent free-agent forward Lauri Markkanen to the Cleveland Cavaliers became official Saturday, one day after the three-player, two-draft pick swap was first reported.
Markkanen is headed to the Cavaliers on a reported four-year, $67 million deal in a sign-and-trade agreement with the Chicago Bulls.
Chicago will acquire forward Derrick Jones Jr. and a lottery-protected 2022 first-round pick from the Portland Trail Blazers, and receive a 2023 second-round pick from the Cavaliers.
Portland acquired forward Larry Nance Jr. from Cleveland to complete the deal.
Markkanen, 24, averaged 13.6 points, 5.3 rebounds and 0.9 assists in 51 games (26 starts) last season. He has averaged 15.6 points, 7.1 rebounds and 1.2 assists in 221 career games (195 starts) since being selected by the Minnesota Timberwolves with the seventh overall pick of the 2017 NBA Draft.
Jones, 24, averaged 6.8 points and 3.5 rebounds in 58 games (43 starts) in his first season with the Trail Blazers in 2020-21. He averaged those same totals over 229 career games (89 starts) with the Phoenix Suns, Miami Heat and Portland.
Nance, 28, averaged 9.3 points, 6.7 rebounds and 3.1 assists in 35 games (27 starts) last season with the Cavaliers. He averaged 8.3 points, 6.7 rebounds and 1.9 assists in 350 career games (122 starts) with the Los Angeles Lakers and Cleveland.