In return, the Bull sent the Thunder a protected second-round pick. Pick protections weren't immediately clear, but it's expected to be heavily protected and unlikely to convey.
In a corresponding move, the Bulls waived veteran forward Carmelo Anthony. The Bulls had acquired Anthony on Jan. 22 from the Rockets in a trade that similarly provided Houston luxury tax relief. Anthony never reported to the team.
Oklahoma City moving Luwawu-Cabarrot will save it around $7.3 million in luxury tax payments, ESPN reported. The amount of cash sent to Chicago wasn't immediately clear, but it's expected to cover the remainder of Luwawu-Cabarrot's contract for the season and then some.
Luwawu-Cabarrot, 23, averaged 1.7 points and 0.9 rebounds while shooting 30.2 percent in 5.9 minutes across 21 games for the Thunder this season. The 76ers selected him at No. 24 overall in the 2016 draft. He will stick on the Bulls' roster, at least for now.