Bulls trade for Carmelo Anthony, 10-time All-Star will be released by Chicago

LOS ANGELES, CA - OCTOBER 20: Carmelo Anthony #7 of the Houston Rockets reacts to his offensive foul during a 124-115 win over the Los Angeles Lakers at Staples Center on October 20, 2018 in Los Angeles, California. (Photo by Harry How/Getty Images)

The Chicago Bulls have traded for Houston Rockets forward and 10-time All-Star Carmelo Anthony, the team confirmed in a release on Tuesday. 

The Bulls, who will trade the rights to Tadija Dragicevic, will also receive cash considerations and the rights to Jon Diebler from the Rockets. 

Despite the trade, Anthony will not be a member of the Bulls for long. He will be released and become a free agent if he clears waivers, according to ESPN.