The Hornets and Suns have agreed to a trade, according to Shams Charania of ESPN, who reports (via Twitter) that Charlotte is sending Miles Bridges, a 2029 first-round pick and a 2027 second-round pick to Phoenix for Grayson Allen, Royce O’Neale and a 2023 first-rounder.

The 2029 first-round pick headed to Phoenix will be the least favorable of Utah’s, Minnesota’s and Cleveland’s selections and is top-five protected, while the 2027 second-rounder is the least favorable of Boston and Orlando’s picks, tweets Brett Siegel of ClutchPoints. The 2033 first-rounder is the Suns’ own unprotected pick, per Charania (Twitter link).

Bridges has long been linked to the Suns, who’ve unsuccessfully tried to tried for him multiple times in the past. The 28-year-old power forward has multiple Michigan State ties to the Suns, whose owner Mat Ishbia is a former Spartan and has made a habit of filling out the organization with people connected to the school.

The trade will be finalized when the moratorium period ends on July 6, per ESPN’s Bobby Marks (Twitter link). Bridges ($22.8MM) is entering the final year of his contract and will be extension-eligible this offseason, Marks adds.

O’Neale will earn a guaranteed $10.9MM next season and $11.6MM in 2026/27. Allen makes $18.1MM in ’26/27, followed by a $19.4MM player option for ’27/28.

The Suns could save approximately $30MM toward their projected luxury tax bill with the trade, according to Yossi Gozlan of Third Apron (Twitter links).

More to come…