Report: Cavaliers Acquire Lauri Markkanen in Sign-and-Trade

As part of the agreement, Markkanen will reportedly sign a four-year deal worth $67 million with Cleveland.

The Cavaliers are acquiring forward Lauri Markkanen via a sign-and-trade with the Bulls, according to ESPN's Adrian Wojnarowski.

As part of the deal, Markkanen, who entered into restricted free agency this offseason, will sign a four-year deal worth $67 million with Cleveland.

The transaction is a three-team deal, per ESPN, also involving the Trail Blazers. Per ESPN, the Bulls will receive forward Derrick Jones Jr., a future lottery-protected 2022 first-round pick from the Blazers and a future second-round pick from the Cavaliers. Portland will receive forward Larry Nance Jr. in the agreement.

Markkanen was the No. 7 pick in the 2017 NBA draft and spent the first four seasons of his career with the Bulls. For his career, he's started 195 total games, averaging 15.6 points and 7.1 rebounds per game. 

Last season, though, Markkanen played his fewest minutes per game, at 25.8, and recorded similar career-lows in points (13.6) and rebounds (5.3) per game. He did shoot a career-high 40.2% from three on 5.8 attempts per contest.

He joins a Cleveland frontcourt that also features former Nets first-round pick Jarrett Allen, who agreed to a new five-year, $100 deal with Cleveland this offseason, and 2021 NBA draft No. 2 pick Evan Mobley.

The Cavaliers have not made the playoffs since 2017-18 and have yet to win more than 22 games since LeBron James departed for the Lakers following the '18 Finals.