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.