The Nets also reached an agreement to send guard Tyshawn Taylor and cash to the New Orleans Pelicans for a conditional future draft pick, sources said.
Both trades are likely to be completed on Tuesday.
Teague, the 29th overall pick in the 2012 NBA draft, had struggled to integrate himself into coach Tom Thibodeau’s system with the Bulls. Teague, a 6-foot-2 guard, has spent most of this season back and forth between the Bulls and the NBA D-League’s Iowa Energy. In 19 games with the Bulls this season, Teague averaged 2.4 points on 24.2 percent shooting in 12.7 minutes.
Shengelia has spent most of the past two seasons playing with the Springfield Armor of the D-League. In limited time with the Nets, the 6-9 forward averaged 1.5 points.
Taylor, like Shengelia a second-round pick in the 2012 draft, is best known for being the player whom Nets coach Jason Kidd asked to bump into him during a drink-spilling incident earlier this season. Taylor has averaged 3.9 points per game in 11.7 minutes with the Nets.
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- Brooklyn Nets
- Marquis Teague
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- Tyshawn Taylor