- Associated Press - Thursday, July 8, 2010

WASHINGTON | Guard Kirk Hinrich and first-round draft pick Kevin Seraphin have been traded to the Washington Wizards by Chicago in a swap that frees up salary space for the Bulls.

Chicago gets the rights to Vladimir Veremeenko, a 2006 second-round draft pick of the Wizards.

The teams agreed to the deal last month, but it couldn’t become official until Thursday, when the new salary cap went into effect and the Wizards could absorb Hinrich’s $9 million salary for next season without having to send back something of similar financial value.

Hinrich has averaged 13.4 points, 5.8 assists, 3.4 rebounds and 1.3 steals over seven NBA seasons.

The 6-foot-9 Seraphin is a forward/center taken 17th overall in the draft after playing in France.

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