The Milwaukee Bucks have agreed in principle to trade forward/center Greg Monroe along with a first and second-round picks to the Phoenix Suns for point guard Eric Bledsoe, according to ESPN's Adrian Wojnarowski.

The Suns will have a first-round pick protection for 2018, getting the pick if it lands between 11-to-16 on the board, 4-to-16 in 2019, and 8-to-30 on 2020, ultimately getting an unprotected pick if they choose to wait til 2021.

Phoenix will get a conditional second-rounder this upcoming NBA Draft it it lands between 48-to-60, but it won't carry over into 2019 if the Bucks keep it in 2018, per Wojnarowski.

Eric Bledsoe
Rick Scuteri/The Associated Press

The Bucks have now added a second-rounder to their package for Bledsoe, making this a more even trade after leaving the Suns with only two point guards in the depth chart.

Phoenix will have to make a decision within the next month on starter Mike James, as they have until Dec. 6 to turn his two-way contract into a full-fledged NBA contract. James has seen the majority of playing time under new coach Jay Triano, with Tyler Ulis getting the back-up job.

Milwaukee will create a $3.38 million trade exception and stay $4.4 million below the luxury tax after unloading Monroe, according to ESPN Insider Bobby Marks. Bledsoe has a $14.5 million cap hit this year and will make $15 million next season.

The Bucks now have $106 million lined up in contracts next season, about $16 million below the luxury tax.

giannis antetokounmpo
Aaron Gash/The Associated Press

Bledsoe is expected to start alongside Rookie of the Year Malcolm Brogdon and lineup with Khris Middleton, Giannis Antetokounmpo, and Thon Maker as his teammates on the frontcourt.

The Bucks are coming off three straight losses and can use an injection of firepower at both ends, now boasting a dynamic point guard that can make things happen at either end of the floor. The Suns will get the young talent they were hoping to net out of this deal, and can now get up to three first-round selections next year, including the Miami Heat pick still on the table.