Photo: Paul Kitagaki Jr. pkitagaki@sacbee.com

The Chicago Bulls are sending Rob Dillingham to the Charlotte Hornets in a trade that will bring veteran guard Buddy Hield and cash to Chicago, according to ESPN sources.

Hield arrives in Chicago after a brief stop with Charlotte, which acquired him in an earlier trade with the Atlanta Hawks.

The Bulls add an experienced perimeter shooter who can provide additional floor spacing to their backcourt.

For Charlotte, the deal provides financial flexibility while adding Dillingham.

The Hornets will create a $9.6 million trade exception as part of the transaction and reduce their salary commitments by approximately $3 million.