The Nets would send cash to New Orleans and acquire a conditional second-round draft pick in return. The trade cannot be official until league offices open Tuesday.
Teague, a first-round draft pick by the Bulls in 2012, has played in 20 games for the Bulls this season, shooting 24.2 percent from the field and averaging 2.3 points and 1.4 assists per game.
Shengelia confirmed that he'd been traded:
— Tornike Shengelia (@TokoShengelia23) January 18, 2014
This is a lateral on-court move for Brooklyn, since none of the three players saw much playing time. But more importantly, the move opens up a roster spot for the Nets, which is crucial if they want to use their Disabled Player Exception. The exception allows the Nets to acquire a player, either by free agency or in a trade, for a salary up to $5.25 million. (Read more about their options here.)
The Nets also save about $3 million in luxury tax this season. Teague's contract expires after next season.
Minimum-salary players don't count in trades, so the Nets could have technically sent either Taylor or Shengelia away in a deal for the DPE. But this makes the path a little easier and gives them an additional draft pick.
Because of that, it's tough to assume this is anything but a preliminary move, potentially setting up for a bigger acquisition.
Yahoo! Sports -- Nets make trades with Bulls, Pelicans