Bulls acquire Jaden Ivey, Anfernee Simons, Mike Conley Jr., picks as Nikola Vucevic era ends

Arturas Karnisovas is off to a strong start at this year’s NBA Trade Deadline.

After getting two second-round picks to facilitate a salary dump for the Sacramento Kings and Cleveland Cavaliers on Saturday, the Chicago Bulls are back on the board as part of a three-team deal that nets them Jaden Ivey and Mike Conley Jr. Shortly thereafter, the Bulls made another deal with the Celtics, sending Nikola Vucevic and a second for Anfernee Simons and a second.

First trade

Bulls get: Jaden Ivey, Mike Conley

Timberwolves get: cap relief

Pistons get: Kevin Huerter, Dario Saric, 2026 first-round pick swap (via Minnesota)

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Second trade

Bulls get: Anfernee Simons, second-round pick (2027 via Denver)

Celtics get: Nikola Vucevic, second-round pick (2026 best of Minnesota, New Orleans, New York, Portland)

Wow.

It’s been four-and-a-half years since the Bulls overhauled the roster, and with just one playoff appearance during that time, it’s beyond much-needed. The Bulls are shipping out win-now players and getting back younger upside swings and salary with which to move forward. Finally.

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Ivey trade reaction

Sending out recently acquired Saric (into a Pistons trade exception to bypass recently traded restrictions) and Huerter, as well as taking on Mike Conley’s contract for a chance to get an extended look at Ivey before he reaches restricted free agency, is a great move.

It’s been a challenging season for the fifth-year guard, averaging 8.2 points and 1.6 assists on 45 percent shooting in 33 games this season. Ivey missed 49 games last season with a broken fibula and underwent arthroscopic surgery on his right knee that cost him five weeks to start this season. Leg injuries are scary for explosive guards, and have contributed to him being pushed out of the role Detroit hoped for him as co-star to Cade Cunningham.

But he’s still a worthy gamble, especially at this cost.

Though they didn’t acquire any picks, Huerter and Saric were not a part of the Bulls’ future. In a sense, the Bulls are simply trading cap space to get on the inside track with a upside restricted free agent.

Trading for distressed assets is a wise strategy that Karnisovas has employed in the past, but instead of buying low on targets like Josh Giddey and Isaac Okoro (both former top 10 picks who struggle as shooters and have fallen out of favor as their respective teams began ascending into high-level playoff contention), Karnisovas bought high. The Bulls could have traded Alex Caruso for multiple draft picks in 2024 and Lonzo Ball for a draft pick in 2025. Instead, Karnisovas flipped them for Giddey and Okoro, respectively, both of whom were at a nadir in value.

Ivey is a different story.

As a restricted free agent, the Bulls will have matching rights on any deal Ivey gets in free agency. With 30 games to evaluate him, they’ll need to ensure he integrates into the system and gets minutes and usage to understand what they have. All in all, this is exactly the type of buy low, high-upside swing the Bulls should be taking, and it cost them almost nothing.

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Vucevic trade reaction

The Vucevic era finally comes to an end, and while it was underwhelming — as an era, and as a trade — Vucevic was the ultimate pro, the model of consistency and an under-appreciated talent for the Bulls. It will be great to see him competing for a championship with the Celtics.

Still, moving off of him was a long time coming. Getting Simons, and hopefully a strong second-round pick, is worth it for Chicago, which now leans heavily away from the old era and into the uncertainty that is the next era.

The real draw of this trade is the second-round pick from Boston, which will likely be the New Orleans Pelicans’ second-round pick this year. If the draft were today, that would be the 32nd pick, which is significantly better than the pick they are sending out, which likely ends up in the mid-50s next season.

This makes sense because they are helping Boston get to $5.5 million above the luxury tax, but helping them reduce their tax penalty by nearly $22 million. They’re not a stone’s throw away from ducking the tax entirely, which is reason enough to believe the Bulls should be getting a valuable second for taking on the money.

Boston Celtics cap situation after trading Anfernee Simons for Nikola Vucevic:

They open up more trade flexibility by getting under the first apron.

They reduce their tax penalty from $39.5 million to $17.7 million.

They have four second-round picks left to help duck the tax. pic.twitter.com/JBuRNoE9kr

— Yossi Gozlan (@YossiGozlan) February 3, 2026

As for Simons, his star has fallen since departing from Portland, where he spent the first seven years of his career. The generously listed 6’3″ guard is averaging just 14.2 points per game, though he is an elite shooter, making 39.5 percent on 6.7 attempts per game.

A $27.6 million expiring contract, it’s unclear whether Simons factors into the Bulls’ future or if he will be moved in a subsequent deal. In his age 26 season, he’s a bit old for the Bulls’ intended timeline around Giddey and Buzelis, but doesn’t have too much value around the league, and could potentially be a longer-term bench option if Karnisovas continue to make moves.

What’s next

Following these trades, the Bulls have 15 players rostered, are up two second-round picks and maintain all their flexibility beyond this season.

The Bulls sent out $23.4 million in expiring salary and took only $20.8 million back, giving them an additional $2.5 million in space before the luxury tax, affording them extra space to take on in future trades. They used it immediately, adding $6.1 million by taking on Simons for Vucevic.

That leaves the Bulls with $4.5 million below the luxury tax.

Taking in no long-term money, they preserve cap space in 2026.

These three trades make the Bulls extremely backcourt heavy with Coby White, Ayo Dosunmu, Tre Jones, Giddey, Simons and Ivey. It also leaves them extremely light in the frontcourt without Vucevic.

Most importantly, this is a marked shift in process, approach and direction from previous years. The Bulls are still missing the star around whom their team will orbit, but they are finally beginning to lean away from an all-out blitz for another futile Play-In push and more towards a future built around youth and athleticism.

Expect more trades to come to fruition before Thursday’s deadline — potentially for White and or Dosunmu — if not simply to balance out the roster, but to continue facilitating trades with what space they have left, and accumulating assets and young players.