Nets trade Toko Shengelia, Tyshawn Taylor, get Marquis Teague and second rounder, open roster spot

USA TODAY Sports

The Nets are finalizing separate deals with Chicago and New Orleans that will send Toko Shengelia to the Bulls in exchange for Marquis Teague, and Tyshawn Taylor to the Pelicans for a protected  second round draft pick and cash considerations. The cash considerations are not expected to be much more than $1 million, perhaps less.

The trade confirmed by beat writers in New York and Chicago, won't be completed until Tuesday, when league offices reopen after the Martin Luther King holiday.  Teague, a 6'2" guard, has spent most of this season back and forth between the Bulls and the NBA D-League’s Iowa Energy. In 19 games with the Bulls this season, Teague averaged 2.4 points on 24.2 percent shooting in 12.7 minutes. He is 20 years old.

Although the trade opens up a roster spot for the Nets, the team is not expected to make another deal now ... although they could, if they wanted sign a player to a 10-day contract. The deal does give them roster flexibility at the trade deadline on February 20. The trade will save the Nets $2.5 million in luxury taxes, dropping their tax bill just below $85 million.  Teague, who is still on his rookie contract, will make $1.21 million next season.

Specifically, the Bulls will send former first-round draft pick  Teague to the Nets for Shengalia, league sources told Yahoo Sports.  The Nets also reached an agreement to send guard Taylor and cash to the New Orleans Pelicans for a conditional future draft pick, sources said. Which pick and in what draft has yet to be reported, but indications are its a second round pick with significant protections. The Nets currently have no unprotected second rounders until 2018. Their 2016 pick is owed to the Clippers, with protections, from the Reggie Evans trade.

The trade limits the amount of cash they can spend at the Draft next June but the team believes they will have enough left to buy a second round pick if they want. The Nets do have a $5.15 million DPE they can use to either sign a free agent or trade for a player with an expiring deal.  The DPE can be used until March 10 to sign a free agent and February 20 to make a trade.

Shengelia seemed to confirm the deal.

And Taylor looked forward.

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