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Report: Bulls trade Kirk Hinrich to Hawks for Justin Holiday, second-rounder

Update: K.C. Johnson of the Chicago Tribune:

This obviously reduces the Bulls’ financial savings, but Justin Holiday adds nice, young depth – especially with Butler sidelined. Chicago still saves money, as Holiday earns less than Hinrich.

It’s all just a bit of history repeating.

The Hawks traded a reserve combo guard, Shelvin Mack, and already have a new one. Kirk Hinrich was once a former Bull playing for the Hawks, and now he’s again a former Bull playing for the Hawks.

Brian Windhorst of ESPN:

The Bulls project to save $5,256,448 with this trade –$4,282,410 in luxury tax and$974,038 in Hinrich’s remaining salary. I’m surprised they got a pick rather than sending Atlanta one.

Chicago exposes itself with less depth Derrick Rose, though Aaron Brooks is still around. Hinrich also could’ve seen minutes at shooting guard with Jimmy Butler injured. That job will largely fall now to E’Twaun Moore and Tony Snell.

The Bulls, on a minor level, have accepted reduced expectations to build for the future.

The Hawks will probably just glue Hinrich to the bench unless something goes wrong, but they’re more prepared now if something does.