The Houston Rockets have agreed to trade Carmelo Anthony and cash to the Chicago Bulls, league sources told ESPN.
However, Anthony won't play a game for the Bulls, a source said. He will be released and become a free agent if he clears waivers.
Houston was aggressively working to find a trade for the exiled Anthony before Monday's 5 p.m. ET deadline to clear a roster spot for Kenneth Faried, who recently agreed to a contract buyout with the Brooklyn Nets.
But league sources said the NBA office will not execute the trade on Monday because of Martin Luther King Jr.