The Bulls traded James Johnson to Toronto on Tuesday for a Raptors for a first-round draft pick, K.C. Johnson of the Chicago Tribune tweeted:
James Johnson has been traded to the Raptors. Left the Berto Center before practice ended in a limo.
Moving JJ's $1.7 million off the books puts the Bulls around $3 million under the salary cap, but more important gives them a second 2011 first-round draft pick on top of two in 2012, K.C. added:
Bulls actually get Heat's 2011 first-round pick, which Raps hold.
Given the Bulls' aversion to move Omer Asik or Taj Gibson, the move looks to be one to package draft picks for a player under $3 million, notably Anthony Parker. Other rumored possibilities being Marcus Thornton, Rasual Butler, Tony Allen, Courtney Lee, and Aaron Afflalo. Not to mention a bought-out Richard Hamilton.
This puts the Bulls at only 12 players on their roster, making more sense that a D-Leaguer get signed to a 10-day contract. All 12 are expected to dress on Wednesday in Toronto, as Joakim Noah will return for his first game since surgery on his right hand.
All of this said, one thing is clear: there's more market value for a late first-round draft pick than James Johnson. Therefore, this is a very good move by Gar Forman's team.