The Charlotte Hornets traded Miles Bridges, a 2029 first-round draft pick, and a 2027 second-rounder to the Phoenix Suns for Grayson Allen, Royce O'Neale, and a 2033 first-round pick, sources told ESPN's Shams Charania.
The 2027 second-round pick is the least favorable draft selection of the Orlando Magic or Boston Celtics, per Bobby Marks of ESPN.
Phoenix saves approximately $20 million in taxes and opens up an additional roster spot with the move, adds Charania.
The Suns are now $11.3 million below their second-apron hard cap, according to Spotrac's Keith Smith.
Meanwhile, Charlotte is about $50.1 million under the luxury-tax line following the reported swap, adds Smith.
Bridges averaged 17.1 points, 5.8 boards, and 3.2 assists across 77 appearances last season. The former No. 12 overall pick has spent his entire seven-year career with the Hornets.
Bridges is set to become an unrestricted free agent next summer.
Allen averaged a career-high 16.5 points last season, but his 3-point efficiency dropped to 34.9%. The Duke product led the Association in 2023-24 with a 46.1% clip from downtown.
Allen is under contract through next season and holds a $19.4-million player option for 2027-28.
O'Neale has been a dependable 3-and-D wing throughout his nine-year career. He posted personal bests in points (9.8 per contest) and 3-point percentage (40.8%) last season.
O'Neale is under contract for two more seasons.
