Source: Chicago Tribune

The Bulls completed the trade of Kyle Korver to the Hawks reported last Friday, however the Timberwolves dropped out of the thoroughly discussed three-team deal.

Korver's $5 million contract becomes guaranteed for the 2012-13 season and slides into the Hawks' trade exception created when they dealt Joe Johnson to the Nets. The Bulls received a $5 million trade exception and cash.

That cash was originally headed to the Timberwolves, who were going to send a second-round pick to the Bulls, a source said. A trade exception allows the Bulls to acquire a player whose contract is up to $5 million without sending out any salary. They expire after a year if unused.

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