Kyle Korver trade completed

Updated: July 16, 2012, 6:46 PM ET
ESPNChicago.com

The Chicago Bulls' trade of forward Kyle Korver to the Atlanta Hawks in exchange for a trade exception and cash considerations became official on Monday, the team announced.

Korver spent two seasons in Chicago after signing as a free agent from the Utah Jazz on July 13, 2010. The nine-year NBA veteran played in 147 games for the Bulls, averaging 8.2 points, 2.1 rebounds and 1.6 assists.

"It's a bit of a bummer for sure," Korver told ESPN 1000's "Chicago's GameNight" on Friday. "I love Chicago. I loved putting on a Bulls uniform. ... What do you do? We learned this is a business and teams are going to make business decisions. I'm gonna go to Atlanta and try and go out there and play well."

The Bulls also already cut ties with guards C.J. Watson and Ronnie Brewer, who, along with Korver, were key members of one of the NBA's deepest benches the past two seasons.

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