Rockets trading Michael Carter-Williams to the Bulls

Houston Rockets guard Michael Carter-Williams (1) drives past Portland Trail Blazers forward Al-Farouq Aminu (8) during the second half of the Rockets 104-85 loss to the Portland Trail Blazers, Tuesday, Oct. 30, 2018, at Toyota Center in Houston. less Houston Rockets guard Michael Carter-Williams (1) drives past Portland Trail Blazers forward Al-Farouq Aminu (8) during the second half of the Rockets 104-85 loss to the Portland Trail Blazers, Tuesday, Oct. ... more Photo: Mark Mulligan, Staff Photographer Photo: Mark Mulligan, Staff Photographer Image 1 of / 24 Caption Close Rockets trading Michael Carter-Williams to the Bulls 1 / 24 Back to Gallery

The Rockets will trade reserve guard Michael Carter-Williams to the Chicago Bulls for a heavily-protected second-round pick, a person with knowledge of the deal said on Monday.

The deal, which includes the Rockets sending cash to the Bulls, was made before the Rockets would have had to guarantee the remainder of Carter-Williams' contract for this season. By trading, rather than waiving Carter-Williams, the Rockets will get savings on the tax hit from the portion of the contract they have already paid.

The second-round pick is heavily protected and unlikely to ever be received.

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Carter-Williams was signed in the offseason as a third point guard behind James Harden and Chris Paul, but struggled early in the season when Paul was suspended and then Harden was out for three games with a strained hamstring. Carter-Williams averaged 4.3 points on 41 percent shooting this season. He most notably made the Rockets' record-setting 26th 3-pointer against the Wizards last month.