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Report: Wizards acquiring Hinrich, 17th pick from Bulls

Ric Bucher has the scoop:

The Chicago Bulls have a deal in place that would move Kirk Hinrich and the 17th pick to theWashington 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.

Hinrich has two years and $17 million remaining on his contract.  He'll make $9 million this year and $8 million in 2011/12. 

My initial reaction is that I hate this trade.  The point of BOYD is to get guys with one year left, not guys with two years left.  We have much less flexibility in 2011 now, which really hurts going into the new CBA.  Also, I was hoping we wouldn't get yet another combo guard. We now currently employ John Wall, Gilbert Arenas, Kirk Hinrich and (for the moment) Shaun Livingston.  

But at least we did get the 17th pick, I guess.

UPDATE: Um, this is weird. From the same article.

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.    

Please fall apart.