The Bulls reportedly agreed in principle to a three-team trade in which they sent guard Jerian Grant to the Magic and received guard Julyan Stone from the Hornets. Adrian Wojnarowski first reported the trade.

Also in the deal, the Magic received center Timofey Mozgov from the Hornets, who received center Bismack Biyombo from the Magic.

The Bulls plan to waive Stone, according to NBC Sports Chicago.