The Chicago Bulls have sent point guard Derrick Rose to the New York Knicks in a blockbuster trade, the team announced on Wednesday.
The Bulls will also send Justin Holiday to the Knicks, along with a second-round pick in the 2017 NBA Draft.
In exchange, the Bulls will receive Jerian Grant, Robin Lopez, and Jose Calderon from the Knicks.
"We felt that (championship) window had come to a close," Bulls G.M. Gar Forman said in a press conference. "In simple terms, our plan moving forward is that we need to get younger and more athletic. We need to find players that fit the style of play that Fred (Hoiberg) wants to play.
"In making this trade, we feel it's the first step in that direction," Forman added.
In a statement, Chicago Bulls Chairman Jerry Reinsdorf said that the decision to part ways with Rose was a difficult one.
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“Knowing Derrick as I do makes this trade a hard one. Everyone knows him as the local kid who became MVP for his hometown team, but not everyone got to know him like I did. While he is a terrific basketball player, he is an even better person with a tremendous heart,” he said in a statement.
“I wish him the best of health for the remainder of his career, and I want to personally thank him for everything that he did on the court and in the community during his time with the Chicago Bulls.”
Rose will be entering the final year of his contract next season, where he will make more than $21 million. The Bulls took on a nearly equal amount of salary from the Knicks in the swap, with Robin Lopez set to make $41 million total over the next three seasons (and $13.2 million in 2016-17) and Jose Calderon on the books for one more year at $7.7 million.
Ever since winning the NBA MVP award in 2011, Rose has seen his tenure with the Bulls derailed on numerous occasions by injuries. Dealing with a torn ACL and a torn meniscus during the intervening years, Rose was able to stay mostly healthy in the 2015-16 season, but still missed 16 games as he averaged 16.4 points and 4.7 assists per game in his final season with the Bulls.
During a press conference Wednesday, Chicago Mayor Rahm Emanuel said Rose "never forgot where he came from."
"Derrick Rose is an incredible basketball player," Emanuel said. "Wherever he goes he'll be an incredible basketball player."
Stay tuned to nbcchicago.com for all the latest on this breaking story.
