Phoenix finally ships off Eric Bledsoe

Here it is, the first NBA trade now that the season has started! This is what it looks like based on the report from Adrian Wojnarowski and Zach Lowe and BasketballInsiders.com's salary numbers:

Phoenix gets:

Greg Monroe

$17,884,176

Milwaukee's 1st round pick (protected 1-10, 17-30 in '18; 1-3, 17-30 in '19; 1-7 in '20; then unprotected)

Milwaukee's 2nd round pick (protected 31-47 in '18 and then expires)

Milwaukee gets:

Eric Bledsoe

$14,500,000

$15,000,000

Those are some unique protections on the picks, but they make sense for a Suns team that doesn't necessarily want too many selections in this draft class alone. In addition to their own, they are likely to have Miami's 1st that's only top-7 protected, so it may be more useful to add the Bucks' 2019 1st when there are lighter protections. This upcoming draft has a lot of star power with DeAndre Ayton, Luka Doncic, Michael Porter Jr., Marvin Bagley III, and Mohamed Bamba likely at the top, but it's not as deep as this past class in the middle where the pick could fall. There's a decent chance that the Bledsoe addition will help Milwaukee finish among the best 13 records in the league to ensure that this year's 2nd will convey, as well, so this should end up being a solid trade package considering their lack of leverage in negotiations. Staying patient after sending the malcontent point guard home two weeks ago allowed them to increase their draft capital and pick up a solid veteran big man on a large, expiring contract. Monroe is still only 27 if things go well enough to keep him around during their continued rebuild, but it is more likely that they try to flip him again for more assets, potentially adding to the overall return for Bledsoe, or buy him out for some cost savings. This also freed up more cap space next year, so they can get to around $27 million in room depending on how they handle their non-guaranteed contracts and where the draft picks land.

Milwaukee now has some interesting back court combination options.

After flirting with a Kyrie Irving trade over the summer, it's no surprise that the Bucks finally went through with this deal, especially after losing a third straight following a 4-2 start. Possessing impressive athleticism and a 6'7.5" wingspan despite standing just 6'1", Bledsoe should fit right in with Milwaukee's long-limbed athletes and provide an extra set of playmaking ability next to point forward Giannis Antetokounmpo. Although not known for his floor-spacing, he did shoot 37% on catch and shoot 3's last year, per NBA.com tracking, and with his effective cutting off the ball, he should be just fine playing with the Greek Freak. Losing Monroe isn't ideal after he became an effective sixth man for them last year once he grew accustomed to that role, but he has been limited by a calf issue so far in the early going. John Henson getting back involved in the rotation along with the continued growth of Thon Maker probably made the move more palatable, and they still have Mirza Teletovic as an offensive big off the bench if needed, albeit with a totally different style.

The overall rotation for the Bucks will be interesting now since reigning Rookie of the Year Malcolm Brogdon, a player that they would have been crazy to include in the deal, has been the nominal point guard next to Antetokounmpo and is effective as a 3-and-D combo guard that is a smart passer. Bledsoe could replace Tony Snell in the starting lineup, but he's been the best shooter on the team (19 of 37 on 3's) so far and is a strong defender himself. Although Khris Middleton is struggling from outside (12 of 45), he is still such a valuable player with his passing and defense, and we haven't even gotten into the eventual return of Jabari Parker at one of the forward spots. Becoming suddenly deep enough to have these questions is a nice problem to have, though, and this trade also brings them down to $4,408,397 under the luxury tax for a little flexibility. Cutting DeAndre Liggins' non-guaranteed $1,471,382 could add to that and create a roster spot if they want to use the $5 million Trade Exception that they have until late February or the $3,384,176 Exception that this deal created, as well. However, it should be noted that they're now just about $17.4 million below the tax threshold for next year with the prospect of re-signing Parker to an expensive new deal looming. For now though, this team should be happy with the new addition and continue to be in the middle of the playoff picture.