According to Shams Charania of The Athletic, the Chicago Bulls have traded their three-and-D wing Justin Holiday to the Memphis Grizzlies for draft picks and young assets.

The Bulls are receiving back the Grizzlies' second-round picks in 2019 and 2020 as well as Marshon Brooks and Wayne Selden, per Adrian Wojnarowski of ESPN.

Justin Holiday has been circling trade rumors ever since the Bulls fired head coach Fred Hoiberg. He was one of the best available wing players across the league. He's only making $4.5 million this season and is a free agent coming into this offseason. This seas0n, he's averaging 11.6 points, 4.4 rebounds, and 2.6 assists per game while shooting 38.3 percent from the field and 35 percent from deep.

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The Bulls will need to waive a player to take on both Brooks and Selden. The team is unsure of who they will be letting go as of now, per Wojnarowski. 

The Bulls are in rebuild mode and have been looking for young assets in trading any of the veterans on their roster.

Selden is a third-year player who is averaging 14.2 minutes per game this year for the Grizzlies. The shooting guard is averaging 5.4 points per game and has shot 40.4 percent from the field.

Meanwhile, Brooks only played 13.3 minutes per game for the Grizzlies this season with averages of 6.6 points per game while shooting 45 percent from the field.

The Grizzlies are in the playoff hunt but have slumped a bit as of late. This makes them buyers going forward. They are currently 18-20 and sit 11th in the NBA's Western Conference.