The Bulls Thursday on the night of the NBA draft took another step toward the potential recruitment of a top free agent like LeBron James with a tentative trade to send Kirk Hinrich and the No. 17 pick in the draft to the Washington Wizards, sources close to both teams confirmed.
The Wizards would not be sending anything back to the Bulls but absorbing Hinrich into their salary cap room. The trade for the Bulls would be to create additional salary cap space, close to about $31 million now, to perhaps be able to sign two top free agents.
It’s an unprecedented situation in the history of the NBA with teams paying others to take their players, as Miami did Wednesday in giving their No. 1 pick to Oklahoma City so the Thunder would take Daequan Cook. The Bulls also were believed to have sent cash to the Wizards, suggesting the Bulls aren’t backing off or sparing any expense in their pursuit of top free agents.
The pitch then would be to a free agent like James that the Bulls could add another free agent, like Chris Bosh or Joe Johnson, along with James and the current roster of Derrick Rose, Joakim Noah and Luol Deng.
The not-yet-official-deal puts the Bulls likely in the best position among all the competitors to obtain perhaps the biggest free agent prize of alltime, James.
Only the Knicks now have more salary cap space for free agents than the Bulls, and the Knicks roster is decimated with only Danilo Gallinari, Toney Douglas, Wilson Chandler, Bill Walker and Eddy Curry under contract. It would be a huge stretch to believe the Knicks could be championship contenders with James and even Chris Bosh, especially because Bosh would have to be their principal big man and Bosh doesn’t want to be a center and isn’t known as much of a defensive force.
The Miami Heat also is angling for James. They may be able to trade Michael Beasley for cap space as the Bulls are apparently doing with Hinrich and get enough for two full maximum free agents, which they don’t have yet. But it’s difficult to see James coming to a team with Wade when Wade is a similar wing player and it is Wade’s town and LeBron would be at best a costar.
The Nets and Clippers also are hoping to be contenders, but with the Nets playing in Newark and Clippers’ history they are considered longshots. The move figures to put the Bulls in prime position to appeal to James when a few months back it seemed like an impossibility to everyone.
It’s also possible James could remain in Cleveland, especially because of his hometown ties to the area and his desire to live there in the future. Would he be able to after leaving the city like that?
Still, the Bulls now assuming the deal goes through as believed have put themselves in probably the best position to make the strongest case to James for ultimate championship success as they are just about in position to make offers to another maximum player like Bosh along with James.
It was not the case until the deal for Hinrich. It’s why it’s such a major move even though it seems so one sided as the Bulls, effectively, have the Wizards their first round pick and cash so Washington would take one of the best top players. It seems so one sided on the surface to be ludicrous, but it could be a deal people will be looking back on in the future as one of the great moves like when the Lakers gave away players like George Lynch for nothing in 1996 to create more salary space to sign Shaq.
The Bulls still would need to trade someone like James Johnson to get to just about the full expected $16.5 million starting salary for two veteran free agents like James and Bosh.
There are potential roadblocks, like if both or either want six year full maximum deals as the Bulls, really, no longer would have the players to do a sign and trade and the Raptors and Cavs are unlikely to help the Bulls create a super team in their conference.
But the presumption is the Bulls would explain that even without the sixth year and even if the starting salaries are slightly less than the allowed $16.5 million, the players if the team is hugely successful will more than make it up with current and future sponsors.
The potential complication in the deal is it cannot be completed until July 8 because the Wizards will not officially have the space under the salary cap to absorb Hinrich’s contract until then. There is a moratorium period in the NBA until July 8, after which teams know the value of the salary cap and then can renounce players, like the Wizards are expected to with Josh Howard.
The potential issue, though it is rare that it would occur after sides have agreed, is since the deal cannot be official until July 8, if something were to happen to Hinrich before then, like an injury, the Wizards could theoretically say they do not want to proceed. But that would be unlikely because a team cannot afford to get a reputation in the league that it will back out of deals. If that were to occur, it would be difficult for a team to make trades. So it would be unlikely a team would back out, especially with a new owner, Ted Leonsis.
So why would the Wizards want Hinrich given they are set to draft John Wall No. 1 and have Gilbert Arenas? It’s a legitimate question, though the Wizards were said to like the way Hinrich operated as a sort of mentor to Derrick Rose to keep pressure off Rose as he came into the NBA and feel Hinrich can do the same for Wall. Some do feel Arenas and Wall will be dynamic together and Hinrich would be the perfect third guard.
The Bulls made their No. 17 selection Thursday night for Washington, Kevin Seraphin. It will officially be listed as a Bulls selection.
The Bulls have been in discussions for several weeks, as has been widely speculated, that they were in talks to see if they could deal players for salary cap space.
There was the most interest in Hinrich. The talks with the Wizards were strong earlier in the week, though sources said the Wizards would not commit. The Bulls were then engaged in serious talks with the Sacramento Kings about the same deal, which spurred the Wizards into action early Thursday before the draft.
Though on the surface it looks like a major risk to give up their best defensive player and only backup to Rose plus a solid first round draft pick for a chance at free agents.
But it is truly the only way the team could go if they want to make a serious pitch to someone like James. Now the Bulls can say in addition to All Star Rose and top rebounder Noah, they can have another All Star in addition to, say, James. It’s a highly appealing package for any free agent who would say he wants to win.
With the deal the Bulls aren’t quite at the $33 million under the cap believed to be needed for two maximum free agents. Some top free agents, like David Lee, don’t require a $16.5 million starting salary because they have fewer years. Lee would start a deal at about $12 million, so he’s a possibility as well with James for both to get the full maximum available for players leaving their teams.
The Bulls figure to work on another deal, perhaps trading a future first, like the one they are owed from Charlotte, if someone would take James Johnson. Perhaps Taj Gibson, though you figure the Bulls would want to keep him. Such a deal could get the team within less than $1 million from two max deals. There’s also the possibility into July if teams with salary cap space like, say, the Clippers or the Nets, cannot attract a free agent. Then the Bulls could trade Deng, which could potentially give the Bulls room for two maximum contracts and almost a third, or at least a high salaried veteran.
Again, it’s a risk to lose so many players on your roster for just the right to pursue the top free agents. But it’s a risk you have to take if you are serious about becoming a true basketball superpower again. The Bulls officially dove into the free agent pool aggressively Thursday and hope to emerge in a few weeks with the catch of all time. Thursday’s deal was the best and only way.