In exchange, the Bulls will receive a 2018 first-round pick (protected 1-5 according to NBA TV's David Aldridge) with limited protections, center Omer Asik, and veteran guards Tony Allen and Jameer Nelson, but they will likely be waived, according to the Chicago Tribune's K.C. Johnson.
This is the same deal that reportedly fell apart Tuesday, but ESPN's Adrian Wojnarowski reports the clincher was the Pelicans offering to pick up the team option on Mirotic's $12.5-million salary next season. Had the team declined the option, Mirotic would have been able to veto the trade.
The Pelicans are also reportedly the frontrunners to sign free-agent big man Greg Monroe. The team needed to bone up its frontcourt after DeMarcus Cousins' season-ending injury, and Mirotic gives them a power forward with floor-stretching capability.
The Bulls will also send a 2018 second-round draft pick and the right to exchange second-round picks in 2021 with Pelicans, according to Wojnarowski.