According to Adrian Wojnarowski of Yahoo! Sports, the Milwaukee Bucks have traded Ersan Ilyasova to the Detroit Pistons for Caron Butler and Shawne Williams.

Ilysasova was drafted by the Bucks in the 2005 NBA Draft by the Bucks in the 2nd round with the 36th pick. He averaged 10.7 PPG and 6.0 RPG in 453 games played during his seven seasons in Milwaukee while playing overseas during part of his tenure.

Trading Ilyasova will save the Bucks $8 million in cap space. Additionally, Butler has a $4.5 million team option for the 2015-16 season, and the Bucks will probably not pick that up. Williams’ contract will probably be waived as well ($1.4 million cap hit). In the end, this will give them approximately $25-30 million total available (depending on the 2015-16 salary cap, Jared Dudley and Jorge Gutierrez) presumably for signing Khris Middleton, another free agent, and their two draft picks for the 2015-16 season.

Here’s a breakdown of the Bucks’ salary cap commitments to the 2015-16 season (thanks to Basketball Insiders):

O.J. Mayo $8,000,000
Zaza Pachulia $5,200,000
Jabari Parker $5,152,440
Caron Butler $4,500,000 (non-guaranteed, and believed to be waived)
Jared Dudley $4,250,000 (non-guaranteed, but believed to be kept)
Jerryd Bayless $3,000,000
John Henson $2,943,221
Michael Carter-Williams $2,399,040
Larry Sanders* $1,865,546 (stretch provision)
Miles Plumlee $2,109,294
Giannis Antetokounmpo $1,953,960
Tyler Ennis $1,662,360
Shawne Williams $1,356,146 (non-guaranteed, and believed to be waived)
Jorge Gutierrez $947,276 (non-guaranteed, and believed to be waived)
Damien Inglis $855,000
Johnny O’Bryant $845,059
Total (including non-guaranteed): $47,039,342
Total without Gutierrez, Butler and Williams: $40,540,374
Projected (using projected $67 million for 2015-16) cap space without Gutierrez, Butler and Williams: $26,459,626
Free Agents
Khris Middleton (his qualifying offer is $2,725,003)

Sources

Basketball-reference.com
Spotrac
Yahoo! Sports
Bleacher Report