According to Yahoo! Sports and other media outlets, the Chicago Bulls and the Los Angeles Lakers are hashing out a sign-and-trade that'll bring Pau Gasol to the Windy City. If this goes down, does it mean the Bulls are out of the Carmelo Anthony race? We're not sure how they'll be able to make the money work unless Pau is taking a drastic pay cut.

It was reported earlier that the long-time Laker had turned down a two-year/$20 million deal from his former club. We'll update with details as they come in.

[via Adrian Wojnarowski]

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