Wiz Acquire Hinrich, Seraphin, $3M for Veermenko's rights

[fishercob]

CHad Ford just tweeted it. Assume we'd use a TPE. Classic BOYDage...

[nate33]

We don't have a TPE that big. It must be a handshake deal. Chicago will draft for us and the trade will be executed in July.

[fishercob]

Yep.

The Chicago Bulls have a deal in place that would move Kirk Hinrich and the 17th pick to the Washington Wizards, freeing up enough cap space to pursue two maximum-salary players on this summer's free-agent market, sources with knowledge of the Bulls' plans said Thursday.

It wasn't immediately clear what Washington would send to Chicago in the trade.

The deal can't be officially consummated until July 8, when the Wizards will have room under the salary cap to absorb Hinrich's $9 million contract without having to send back anything of similar value.

Since it's a good-faith deal for the time being, there remains a chance it could fall apart. But according to one source, the Sacramento Kings are prepared to make a similar deal with the Bulls in the Wizards' stead if that were to happen.

Either way, moving Hinrich and the pick would push Chicago's space under the cap from $20 million to more than $30 million. That puts the Bulls on equal footing with the Miami Heat in pursuing not just one but two members of a free-agent class that is expected to include LeBron James, Chris Bosh, Carlos Boozer, Amare Stoudemire and Joe Johnson.

[KevinFCheng]

Wow, Hinrich has 2 years left on his contract. Tough pill to swallow. We shouldn't be done yet as we might acquire another pick or use the 30/35 to trade up from 17.

[JonathanJoseph]

I'm not a fan at all. Heinrich has 2 yrs/$17M left on his deal.

[nate33]

My first thought is that I like it. Hinrich is the perfect leader for a young team and a great complement to Wall.

My second thought is that we will really try hard to dump Arenas now. Our crowded backcourt just got more crowded.

My third thought is that this derails any plan to go after Melo unless we can dump Arenas for some cap relief.

[closg00]

The Bulls prep to make a move of LeBron, thanks for bringing some news Fish. I wonder how-much more we are willing to take-on in salary to get another pick?

I feel bad for Kirk though, it's starting all over for him now.

[Ji]

good bye cap space and Carmelo and hello mediocrity. At least at #11, we get a higher upside player. Lebron James type players area available all the time

[fishercob]

Man, it just all depends on who is there at 17 or, as Kevin says, if we use it to trade up again.

Real misgivings about handing Chicago room for another Max guy. I hope there's a future first in there as well.

I wonder if Hinrich might be movable at the deadline to a contender?

[nate33]

By my calculations, the Bulls have about $28M in cap space. That's not enough for two max free agents. It's enough for 1 plus a second-tier free agent. It might be enough for Lebron + Lee or Boozer, but not Lebron + Bosh.

[jax98]

Hinrich is on a declining deal. So he should be easy to move at the deadline.

[KevinFCheng]

Yeah, does anyone know when we are able to trade Hinrich again? I hope this doesn't mean the end of Gilbert, here. He and Wall can work. We might have just basically gave them Bosh and LeBron.

[mohammed10]

My first thought is that I like it. Hinrich is the perfect leader for a young team and a great complement to Wall.

My second thought is that we will really try hard to dump Arenas now. Our crowded backcourt just got more crowded.

My third thought is that this derails any plan to go after Melo unless we can dump Arenas for some cap relief.

Good thoughts all, nate.

Not sure that I like this move. Can't believe that this was the best deal out there...

[closg00]

Hinrich is on a declining deal. So he should be easy to move at the deadline.

$9 mil, then $8 mil the following year.

[Dat2U]

Fire EG!

Seriously, WTF! Hinrich has two years on his deal. We hand Chicago ANOTHER max salary slot and all we get is the stinkin 17th pick.

UGHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!

I can't believe Leonsis would sign off on this.

[AceDegenerate]

Ehh. I think this deal all depends on who is available at 17. I am pretty sure someone is going to drop. We could definitely get Larry Sanders here who I like for this team as well. If it ends up Gordon Hayward or something ridiculous, this trade blows.

[Hoopalotta]

Yeah Dat, that was my first reaction, but Sacramento is ready to do the same thing for the Bulls.

[Dat2U]

So how much does the 17th pick cost us? About $20 mil. You do the math. Sounds like EG drastically overpaid again. What a shock!

[nate33]

This works nicely in conjunction with Arenas for Carter. I really do like a Wall/Hinrich/Young rotation in the backcourt - very complementary. Young starts to get him on track, but Hinrich finishes because he's a heady veteran who can defend.

It'll be interesting to see who we draft at #17. Alabi is probably the best fit.

[Hoopalotta]

Yeah, a bit expensive there.