He was traded to the Bulls in 2016-17, but appeared in just 25 games last season after undergoing foot surgery.
Both Brooks and Selden were meant to be included in a three-team trade with the Phoenix Suns and Washington Wizards, which would've brought the Grizzlies back young forward Kelly Oubre.More news: Harry Kane Chalks Off Fantastic Milestone As Spurs Smash Cardiff
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Holiday is on an expiring contract and could be moved again before the February 7 trade deadline as long as his contract is not aggregated with another player.
With Holiday gone, rookie forward Chandler Hutchison figures to slide into a starting spot on the wing.
Selden is a former Kansas Jayhawk and just 24 years old. His 97 3-pointers are the eighth-most in the National Basketball Association this season. Brooks, a five-year veteran, has only played 13.3 minutes per game for Memphis this season.
Nearly immediately following the trade, the Bulls chose to waive point guard Cameron Payne. But, aside from moving on from Payne, let's look at the main repercussions from the trade as a whole.