The Chicago Bulls officially acquired then waived guard Michael Carter-Williams on Monday.
The Houston Rockets agreed to trade Carter-Williams and cash to the Bulls for a conditional, heavily protected second-round Draft pick. Adrian Wojnarowski of ESPN was first to report the deal.
The Bulls quickly waived Carter-Williams because his contract would become guaranteed by 5 p.m. on Monday. The Bulls also waived swingman MarShon Brooks, who was acquired by Chicago in a trade with the Memphis Grizzlies last week.
The move allows the Rockets to clear a roster space for undrafted rookie Danuel House, who has become a valuable contributor for Houston and is approaching the 45 days allotted on his two-way contract.
Carter-Williams played for the Bulls in the 2016-17 season, landing there in an offseason trade with the Milwaukee Bucks. He averaged 6.6 points, 3.4 rebounds and 2.5 assists in 45 games, but was not re-signed by Chicago in the summer of 2017. He spent 2017-18 with the Charlotte Hornets and signed with the Rockets last summer as a free agent.
The Kia Rookie of the Year winner in 2013-14, Carter-Williams averaged 4.3 points and 1.3 assists in 16 games for the Rockets this season. The 6-foot-6 Carter-Williams was the 11th overall selection by the Philadelphia 76ers in the 2013 draft and he was traded to Milwaukee during the 2014-15 season.
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Information from The Associated Press was used in this report.