NBA Trade Rumors & News Update 2014: Bulls Send Luol Deng to Cavaliers for Andrew Bynum and Draft Picks

The NBA saw the Andrew Bynum saga twist in dramatic flair again, as the Cavaliers center, who was suspended for what the Cleveland called "conduct detrimental to the team", was traded for one of the cornerstones of the current Chicago Bulls franchise - Luol Deng.

According to a report from The Guardian, the small forward was traded for Bynum plus three future draft picks in the deal. 

It seems that this setup would find the Bulls seeing true value in the draft picks, as they could easily waive Bynum soon after the completion of their deal. The Bulls would also be saving nearly $20 million in cash because of the trade. On the other hand, the Cavs would receive a dependable player and two-time former All Star. 

CBS Sports reports that Deng is averaging 19 points per game, as well as nearly 7 rebounds and four assists for Chicago. In a tweet, Cavs owner Dan Gilbert welcomed the Sudanese-born Deng to the Cavaliers organization.

Back in Chicago though, the mood was a bit somber as they bid goodbye to their former star. USA Today quoted Bulls coach Tom Thibodeau saying, "We played a number of games without Luol, so I think we have a good understanding of what we'll need. We need everyone."

According to Yahoo! Sports, the Bulls organization offered Deng a three year $30 million contract extension.

"Within days of the Chicago Bulls unloading Luol Deng for salary cap relief and a first round pick, the All Star forward rejected a three year, $30 million contract extension," the site wrote. According to the report, Deng, a would-be unrestricted free agent this coming summer, "turned down the deal on Friday, clearing the way for Bulls management to complete a deal with Cleveland for broken-down center Andrew Bynum and a package of draft picks on Monday night."

So far, no word on how these trades will affect Pau Gasol's fate with the Lakers.