Trade Idea for One of the NBA's Most Active Trade Deadline Buyers

The NBA's February 5 trade deadline is approaching, and the Chicago Bulls are believed to be among the league's more active teams seeking a deal.

Per multiple league and agent sources, Chicago is looking to improve postseason chances this season while adding young, athletic players to complement its core duo of Josh Giddey and Matas Buzelis.

The Bulls should have leverage heading into negotiations, with plentiful expiring contracts, draft picks and marginal pressure to rush for a bad deal, since the franchise can reach nearly $70 million in cap room this July.

With that in mind, the Indiana Pacers are seeking a starting-caliber center. They may not be able to fill that position, pay productive guard Bennedict Mathurin and also stay under the luxury-tax threshold (projected at almost $202 million) for 2026-27.

Additionally, the New Orleans Pelicans' new front office is believed to be looking to reset around Derik Queen and Jeremiah Fears; the Dallas Mavericks need roster space to sign one or two of their productive two-way players and need to mind next year's second apron (about $223 million).

The following is a four-team trade concept, driven by the Bulls' potential willingness to give up short-term draft compensation for two bright young players.

Full Trade Scenario

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Bulls get:

• Bennedict Mathurin (from Pacers)
• Yves Missi (from Pelicans)
• Kevon Looney (from Pelicans)

Pacers get:

• Daniel Gafford (from Mavericks)
• Jevon Carter (from Bulls)
• $9.2 million trade exception (Bennedict Mathurin)

Pelicans get:

• Jarace Walker (from Pacers)
• Dante Exum (from Mavericks)
• $8 million trade exception (Kevon Looney)
• $3.4 million trade exception (Yves Missi)
• 2026 protected first-rounder (from Bulls)

Mavericks get:

• Dalen Terry (from Chicago)
• $9 million trade exception (Daniel Gafford)
• $2.3 million trade exception (Dante Exum)
• 2026 protected first-rounder (from Portland Trail Blazers, via Bulls)

Important Trade Notes

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The 2026 first-rounder from Chicago to New Orleans would have top-5 protection this year, conveying unprotected in 2027. The Portland 2026 going to Dallas already has lottery protection through 2028, otherwise conveying as a second-rounder.

To make roster room before the trade, the Bulls waive Julian Phillips. Chicago uses the expanded traded-player exception for Terry and Carter to acquire Mathurin and Looney. Missi is acquired via the preexisting Zach LaVine trade exception.

The Pacers acquire Gafford via the Walker expanded traded player exception and Carter by the Tyrese Haliburton disabled player exception, generating a new trade exception for Mathurin's full salary.

New Orleans uses the preexisting Brandon Ingram trade exception on Walker; Exum is on a minimum contract, enabling the team to generate new trade exceptions for Missi and Looney.

Finally, the Mavericks take in Terry for Gafford, and the difference in salary becomes a new trade exception (along with one for Exum's salary). Depending on the likelihood that various Pelicans earn incentives over the second half of the year, Exum can be pulled from the deal (waived outright) or sent to another team willing to take his contract on (for cash considerations).

Why the Chicago Bulls Do It

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The Bulls are flush with spending power this summer, so any potential move needs to weigh the value of waiting.

Still, chasing Mathurin with an offer sheet as a restricted free agent (requiring an overpay) is a different negotiating platform than having him as the Bulls' own restricted free agent.

Equally, adding a young center like Missi, who has two additional years on his rookie-scale contract, is a relatively low-risk investment. Chicago is giving players it would view as expendable (Terry, Carter) and draft compensation this June that may be unlikely to yield talent on par with Mathurin and Missi.

The Bulls have other players on expiring contracts they can trade before the deadline, such as Nikola Vučević, Coby White, Kevin Huerter, Ayo Dosunmu, and Zach Collins. This concept may not be the only move the team makes, but it fills two positional needs around Giddey and Buzelis without Chicago giving up significant future considerations.

Depending on which players the Bulls keep beyond this season, the team could have nearly $47 million in cap room (including Mathurin and Missi).

Why the Indiana Pacers Do It

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The Jay Huff reverse dunk has been a joy this season, but the Pacers have struggled this year. The Tyrese Haliburton Achilles injury is primarily to blame, but Indiana has a serious hole in the middle with the offseason departure of Myles Turner in free agency.

Gafford is a rock-solid center with NBA Finals experience. He can start or come off the bench, whatever coach Rick Carlisle needs. The tandem of Huff and Gafford would be an upgrade next season, with Haliburton ideally back to form.

The Pacers don't give up a first-round pick directly for Gafford, essentially rerouting that draft compensation to the Dallas Mavericks. Mathurin is seeking a salary in the mid-$20 million range (or higher), which is problematic for the tax-averse Pacers.

Initially, with Gafford, Indiana projects to be over the tax next year by about $5 million (thus the need to move on from Walker), though some of that can be averted by buying a couple of second-round picks in June before the draft for inexpensive talent. The Pacers should be able to navigate below the tax line next year with minor transactions (whether through trade or clever roster manipulation).

Why the New Orleans Pelicans Do It

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To be clear, the Pelicans are a suitor for Mathurin. Why would they "help" the Bulls get the player they want?

The logic is that a three-team deal is imminent among Chicago, Indiana, and Dallas. The Pelicans have already lost out on Mathurin; would they be willing to part with a first-round pick for Missi, given that they acquired Derik Queen as a cornerstone piece at the same position?

The Pelicans get a free look at Walker, moving the veteran Looney to stay under the tax. It's not the home-run deal the Pelicans may hope for, losing out on Mathurin, but the return from Chicago for Missi is solid.

Why the Dallas Mavericks Do It

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The Mavericks' season has not gone as planned, primarily due to injuries.

Gafford, who was extended this offseason, is somewhat superfluous behind a healthy Anthony Davis and Dereck Lively II. Dallas has considered getting out of Davis' contract, but with his recent hand injury, the team isn't seeing a strong market for the former All-Star.

Additionally, the Mavericks owe their 2027 first-round pick to the Charlotte Hornets, so tanking for draft considerations isn't an option. Instead, the franchise seems poised to give the Kyrie Irving/Davis tandem a chance next year.

Getting out of Gafford's contract helps the franchise manage its budget below next year's second apron.

The return for Gafford is the first-round pick. The team can look at Terry or let him (or another player) go to make room for productive two-way players Ryan Nembhard and Moussa Cisse.

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