As part of last offseason’s flurry of moves, one under the radar transaction was a sign-and-trade of Daniel Theis away from the Bulls to the Rockets. The Rockets gave back nothing so a Traded Player Exception of exactly $5M was created for the Bulls to use.
They had a year, but it’s going to expire on July 7th. The exception can be used in a trade or a waiver claim, the latter being pretty rare so it was newsworthy that The Spurs claimed Isaiah Roby from the Thunder on Tuesday. The exception cannot be used on a free agent, it cannot be combined with other exceptions or a player.