The trade also included the New Orleans Pelicans who will act as a salary relief team in the deal.
Per Adrian Wojnarowski:
Chicago is finalizing deal to send Marquis Teague to the Brooklyn Nets for forward Toko Shengelia, league sources tell Yahoo Sports.
Clarification: Nets are sending Tyshawn Taylor to New Orleans with cash.
So in short, the Bulls acquire Toko Shengelia while the Nets acquire Marquis Teague. In addition, the Nets have traded Tyshawn Taylor to the New Orleans Pelicans which will give them a bit of salary relief as Teague is due over $1 million dollars this season – a figure that is increased on a dollar by dollar tax since the Nets are over the NBA’s luxury tax.
Trading Taylor to the Pelicans, who made just under $800,000 dollars will alleviate some of that financial crunch.
Meanwhile, Shengelia is signed through this season and holds a $1,115,000 dollar qualifying offer for the 2014-15 campaign.
Teague is signed through the 2014-15 season and has a team option for the 2015-16 season.