Report: Bulls not interested in trading Luol Deng for Andrew Bynum

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In the same report that had the Lakers in discussions with the Cavaliers about a possible trade of Pau Gasol for Andrew Bynum, there was talk that the Bulls may be interested in a similar salary dump by offering up Luol Deng to Cleveland in exchange for the suspended center.

The move from Chicago’s side wouldn’t be to engage in a reclamation project where Bynum is concerned, but instead it would be a move to cut around $20 million in salary and tax costs in what appears to be a lost Bulls season.

But like the Lakers, the Bulls organization is committed to winning over cost-cutting, so the rumored interest in a Deng for Bynum swap doesn’t appear to be real at this time.

From K.C. Johnson of the Chicago Tribune:

That example should quell any lingering whispers of the Bulls trading Luol Deng forAndrew Bynum, whom the Cavaliers are shopping after suspending him for conduct detrimental to the team. The second half of Bynum’s $12.25 million salary can be waived before Jan. 7.

That means, if the Bulls were to trade Deng for Bynum and waive him, they could save roughly $20 million in salary and tax payments. That isn’t happening, according to sources.

The example noted in the story goes back to last season, when Chicago had offers to take Rip Hamilton off its hands in exchange for a first round draft pick, which would have accomplished the same goal of getting the Bulls below the luxury tax line.

Chicago hopes to re-sign Deng as a free agent this summer, but would entertain offers of a rotation player and a pick in exchange for his services. For now, though, the Bulls aren’t interested in giving up any part of their future just to save a few (million) dollars.