The Chicago Bulls have traded Kyle Korver to the Atlanta Hawks in a move that saves the team money and ends Korver's two-year run with the team.

"It's a bit of a bummer for sure," Korver told ESPN 1000's "Chicago's GameNight" on Friday. "I love Chicago. I loved putting on a Bulls uniform. … What do you do? We learned this is a business and teams are going to make business decisions. … I'm gonna go to Atlanta and try and go out there and play well."

The teams needed the Minnesota Timberwolves to facilitate the deal, which will save the Bulls $500,000 and net either a second-round draft pick and player exception or a player with a small contract from the Wolves, the Chicago Tribune reported.

The Bulls have a potentially expensive decision coming up. The Houston Rockets reached a verbal agreement on a three-year, $25 million deal with backup center Omer Asik. The Bulls have not said yet whether they plan to match.

The Bulls also reportedly have a deal in place to bring guard Kirk Hinrich back to Chicago on a two-year deal worth $6 million.

Chicago had until Sunday to pick up Korver's $5 million option or pay him a $500,000 buyout.

Korver's trade is the latest move in a considerable offseason roster overhaul the Bulls are conducting. The team also cut ties with guards C.J. Watson and Ronnie Brewer, who, along with Korver, were key members of one of the NBA's deepest benches the past two seasons.

Even with those moves, Korver expressed confidence the Chicago could remain among the NBA's elite.

"They still got a great core. You got some really good players on the team. So now, maybe, they aren't going to be quite as deep as we were the past couple years. … I thought signing (Hinrich) was a really good move for them. He can fill in a lot of holes for them -- especially with Derrick being out for a while. The Bulls are a really well-run team. They're gonna be fine."

During Korver's time with the Bulls, the team twice had the best record in the Eastern Conference, entering the playoffs as a No. 1 seed. In spite of that, Korver expressed disappointment the team was unable to win a title.