The Bulls are trading up-and-coming guard Ayo Dosunmu to the Timberwolves, according to a report from ESPN's Shams Charania.
Chicago is sending wing Julian Phillips to Minnesota in addition to Dosunmu. In exchange, Minnesota is sending the Bulls Rob Dillingham, Leonard Miller and four second-round picks.
Minnesota has been desperately seeking backcourt help to replace Nickeil Alexander-Walker, who left in free agency last offseason.
The 26-year-old Dosunmu has enjoyed the best season of his five-year NBA career. He is averaging a career-high 15.0 points per game to go along with 3.6 assists and 3.0 rebounds on 51.4% shooting overall and 45.1% shooting from three.
Dosunmu should have an instant impact on Minnesota's rotation, slotting in with Anthony Edwards, Jaden McDaniels and Donte DiVincenzo.
Minnesota is 32-20 on the season and in fifth-place in the Western Conference.