Three-team trade sending Julius Randle to Nets, Nic Claxton to Bulls

The Timberwolves have reportedly found a new home for Julius Randle.

According to ESPN’s Shams Charania, Minnesota is sending Randle and the No. 28 overall pick in Tuesday’s NBA Draft to the Nets as part of a three-team trade that sends center Nic Claxton to the Bulls.

The Timberwolves will receive Brooklyn’s No. 33 pick in return.

At first glance, the deal may seem light for Minnesota. But the bigger picture appears to be financial flexibility.

According to Charania, the trade clears the remaining two years of Randle’s contract from the Timberwolves’ books, creating additional room to retain free-agent guard Ayo Dosunmu and utilize various roster-building exceptions this offseason.

In other words, this wasn’t just a draft-eve move. It was a cap move.

The Nets, meanwhile, use their cap space to acquire a proven veteran in Randle, a three-time All-Star and two-time All-NBA selection. Brooklyn also lands a first-round pick as part of the transaction.

Chicago addresses a need at center by adding Claxton, one of the league’s more athletic defensive big men. According to Charania, the Bulls will still have roughly $30 million in cap space remaining after completing the deal.

The move comes after weeks of speculation surrounding Randle’s future in Minnesota. Multiple reports had indicated the Timberwolves were exploring trade options involving the veteran forward while looking for ways to reshape the roster around Anthony Edwards.

Now they’ve officially made their move. And with the NBA Draft less than 24 hours away, it may not be the last one.