Why did Bulls, Heat lose NBA Draft option? NBA ends investigation into Lonzo Ball, Kyle Lowry . deals
After many months investigation of signed transactions and transactions sending Lonzo Ball to the Bulls and Kyle Lowry to the Heat, the NBA eventually introduced penalties for both franchises.
The NBA announced Wednesday afternoon that Chicago and Miami will lose their future second-round picks after the participating organizations discussed it with player representatives ahead of the official start of the year’s free agency period. 2021. In a memo sent to other teams, the federation said that the Bulls and Heat “fully cooperate with the investigations,” according to ESPN’s Adrian Wojnarowski, and that was a factor in how they determined penalties. How will.
Among the penalties for the NBA: Fines of up to $10 million per team, loss of draft picks, and suspension of team executives.
– Adrian Wojnarowski (@wojespn) December 1, 2021
What illegal actions did the Bulls and Heat commit? And how do they react when they lose their options?
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Why did the Bulls and Heat lose their NBA Draft options?
This is the NBA’s official statement on its investigations into the Bulls and Heat:
The NBA announced today that the Chicago Bulls and Miami Heat each violated league rules governing the timing of this season’s dealer free discussions, and the federation has directed that the draft round selection The next two available by each team will be forfeited. These decisions follow investigations into free agency discussions engaged by the Bulls over Lonzo Ball and by the Heat against Kyle Lowry.
Details of the signing and commercial transactions were reported almost immediately after the free agency began at 6 p.m. ET on Aug. 2. Signing and commercial agreements. are often complex and take considerable time to complete, so those transactions have set off alarm bells in the union office, leading to investigations.
The NBA ultimately concluded that the teams and reps had conversations before they were allowed to do so and forced each team to forgo the second pick.
According to a league source: the penalties given to the Bulls and Heat for stripping the next available pick in the second round is actually the next pick either team has. It is not their own choice.
Both teams have picks with protections/conditions attached.
– Keith Smith (@KeithSmithNBA) December 1, 2021
Lowry signed a three-year, $85 million deal with the Heat as part of a deal between Miami and Toronto. The Raptors get Goran Dragic and Precious Achiuwa.
Ball signed a four-year, $80 million contract with the Bulls as part of a deal between Chicago and New Orleans. The Pelicans get Garrett Temple, Tomas Satoransky, and a future second-round pick.
How do Bulls and Heat react to NBA ruling?
Statement of the Chicago Bulls
The Chicago Bulls have fully cooperated with the federation in its investigation. We’re glad this process is over and look forward to the rest of our season.
Miami Heat statement
While we disagree, we accept the union’s decision. We are continuing with our season.