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The NBA trade market is officially open for business.
The Chicago Bulls traded guard Alex Caruso to the Oklahoma City Thunder for Josh Giddey, per ESPN’s Adrian Wojnarowski.
The Thunder acquired Caruso with the hope to sign him to a contract extension, Wojnarowski added.
Adrian Wojnarowski @wojespn
Caruso is entering the final year of his deal and becomes eligible for a four-year, approximately $80M extension exactly six months from the date of this trade. The Thunder made the trade with the hope to have Caruso as an integral player for the long-term. https://t.co/ZDO8fL4Js7
According to NBA insider Marc Stein, the trade did not include any draft compensation and was a “straight-up swap.”
Marc Stein @TheSteinLine
One source with knowledge of the trade construction tells @TheSteinLine that Josh Giddey-for-Alex Caruso was indeed a straight-up swap between the Thunder and the Bulls with no draft compensation included.
More to come: https://t.co/A6ycVmnZ8Y
The 6’4″ guard just finished his seventh NBA season after spending four campaigns with the Los Angeles Lakers and three with the Bulls. He averaged 10.1 points on 46.8 percent shooting (40.8 percent from three), 3.5 assists and 1.7 steals.
Chicago loaded up prior to the 2021-22 season, with the team adding DeMar DeRozan, Lonzo Ball and Nikola Vučević to a roster that already included Zach LaVine. It rounded out the roster with players like Caruso, who joined the team on a four-year, $37 million contract through the 2024-25 season.
Unfortunately, injuries and disappointing play have contributed to the Bulls falling short of expectations.
Ball has only played 35 games in a Bulls uniform (and none in the past two seasons) as he works his way back from a lingering left knee injury stemming from a bone bruise and a torn left meniscus suffered in January 2022. LaVine also dealt with a left knee injury in 2021-22 that led to offseason surgery.
DeRozan, LaVine, Vučević and Caruso were available for the majority of the 2022-23 season, but the Bulls didn’t get it going. They finished fifth in defensive efficiency but 24th on the offensive end, per Basketball-Reference.
Chicago ended the season 40-42 and lost to the Miami Heat in the play-in tournament. The Bulls kept their core, though, in hopes of improving. That didn’t happen, though, with the team falling in the play-in tournament again following a 39-43 season.
Rumors on some key pieces were swirling during the season.
In regards to Caruso, Jake Fischer of Yahoo Sports reported on Jan. 24 that the team would need “multiple first-round picks” in return for Caruso to even think about moving him. Apparently the price changed.
Giddey, 21, averaged 12.3 points, 6.4 rebounds and 4.8 assists in the 2023-24 season, shooting 33.7 percent from three. His points, rebounds and assists were all down from the 2022-23 season, and the Thunder clearly felt his upside was capped on their current roster.
Caruso will give them a solid two-way role player, while the Bulls can begin rebuilding around younger talent. Given that Zach LaVine reportedly is also very much on the trade block, the Bulls appear to be retooling this summer.
