The Chicago Bulls and Washington Wizards completed a trade during the NBA Draft that allowed the Bulls to draft Julian Phillips in the second-round. Official compensation for this trade has now been released by the Wizards, via the Wizards Twitter account.

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Two future second-round picks will be going back to the Wizards in return for the draft pick that turned into Julian Phillips for the Bulls. The trade is not massive by any means, but it is telling in regards to the direction of both of these franchises.

For the Bulls, they look to be committing still to their current core and building as much of a contending roster as they can around Zach LaVine, DeMar DeRozan and Nikola Vucevic. Dealing two future picks for Julian Phillips indicates that they see him being a contributor sooner rather than later.

Meanwhile, the Wizards are the most clear example of a rebuilding team in the NBA. In June alone they have dealt Bradley Beal, Kristaps Porzingis, and Chris Paul for draft compensation and young, developing players. It is clear that they have given up on this current era and are looking towards the future of the organization.

The irony is that the Bulls should probably be considering a rebuild as well. Adding Julian Phillips does not figure to do anything but keep the Bulls exactly where they are; a middle-of-the-pack team that does not have what it takes to compete with the top squads around the NBA, let alone in just the Eastern Conference.

With trade details officially confirmed, stay tuned into whether either of these two teams make any more moves throughout the rest of the NBA offseason as free agency gets going on Friday.