The Bulls are trying to clear cap space to sign free agents.
The Bulls will have a $30 million in cap space when the trade goes through. The trade goes through on July 8th, because that is the first day the Wizards have enough cap space to take on the contract.
Along with Hinrich, the Bulls send the 17th overall pick in tonights draft. The Bulls will make the selection, but the player will eventually go to the Wizards.
