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Wizards complete deal for Hinrich, Seraphin (updated); Yi presser on Friday

The Wizards are have finally completed their trade with Chicago for Kirk Hinrich and the rights to 17th overall pick Kevin Seraphin. The deal, which cost the Wizards only a second-round pick, was agreed upon hours before the NBA draft three weeks ago.

The Wizards sacrificed the rights to 2006 second-round pick Vladimir Veremeenko in order to complete a trade agreement that was reached prior to the NBA draft three weeks ago.

"It was a little strange because I couldn't talk to those guys until the trade became official. But I talked to Flip and Ernie and now I'm excited and motivated for the opportunity," Hinrich told the Chicago Tribune. "I hope it works out for the Bulls. I really enjoyed my seven seasons there. To get drafted by the Bulls and have the opportunity to grow as player, I had a blast. I tired to play hard for the fans.

"My favorite memory was draft night. We had a lot of good times and tough times. I've made a lot of good friends. I had a lot of great teammates. The front office was always very fair with me. I appreciated the chance."

In order to make the trade, the Wizards renounced the rights to free agents Josh Howard, Mike Miller and Randy Foye. The Wizards could still re-sign them, but they would lose their "Bird rights" to those players, which allows them to go over the salary cap to retain them.

After the league announced a cap figure of $58.044 million on Wednesday, the Wizards gained another $2 million to spend on free agents. They are expected to have around $9 million in cap room after acquiring Hinrich, Seraphin and Yi Jianlian in trades the past few weeks.

The Wizards will formally introduce Yi at 1:30 p.m. on Friday at Verizon Center before he leaves to train with the Chinese national team. China will participate in the World Championships in Turkey this August.

In some non-LeBron NBA free agent news, former Wizards center Brendan Haywood agreed to a six-year, $55 million contract to remain in Dallas. The move was great for Haywood, who rejected the Wizards' offer for a four-year, $30 million extension before last season and decided not to negotiate during the season. Believing that they would be unable to sign him this summer, the Wizards dealt him to Dallas at the trade deadline and received a $6 million trade exception in the process.

Miller also reportedly was offered a five-year deal worth $27-million to $30-million contract from the Miami Heat to add a shooter to the possible LeBron James-Dwyane Wade-Chris Bosh union. Miller will likely hitch himself to James, wherever he goes, having already passed on a similar contract offer from the Los Angeles Lakers.

The Wizards can also scratch Travis Outlaw from their list of free agent targets after the athletic wing agreed to a five-year, $35-million deal with the New Jersey Nets, who have appear to have given up on their chances of signing James or other big name free agents.

By Michael Lee  |  July 8, 2010; 5:05 PM ET
 
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Comments

55 million for Haywood? 35M for Outlaw? 30M for Miller? Plus Amir Johnson, Darko, Frye, etc...? These guys are getting seriously overpaid. As much as I'd like the Wiz to sign a few FA's, kinda glad we are not shelling out $30+ million for career back-ups and 6th men. There will be bargains to be had after the dust settles.

Posted by: akmed0 | July 8, 2010 5:13 PM | Report abuse

well, what are we going to do with Arenas?

i think there is still a possibility that he gets moved by the end of the summer. but if not, its still all good. I hope we could sign someone like josh Childress. that would be great for our youth movement

wall
arenas
childress
blatche
mcghee

we can beat out a team like charlotte and sneak in that 8th spot

Posted by: mrhney03 | July 8, 2010 5:31 PM | Report abuse

The Heat giving Mike Miller $27-30mil would only work if they successfully negociate a sign-and-trade for Bosh and Toronto has shown little/no interest in Miami's roster.

I guess this means that Miami has finalized or feel confident about the latest rumor of a trade involving Toronto, Miami, Charlotte, and Houston. I just wonder who on Miami, other than Haslem, anyone of those teams would want. Especially since Miami has not been able to get ANY takers for Beasley.

And speaking of Beasley, I still say that the kid has always seemed happiest when shown visiting the DC metro area. I think the Wiz should consider taking a 1 year flyer on this guy, since Miami would probably be open to any way to get rid of his '10-'11 salary number. Maybe even workout a sign-and-trade for Miller.

OK...OK I can already hear the posters crying out "how could you help a division rival become a dynasty?" But, the train has already left the station. Why not see if your team can gain something, too?

Posted by: SportzWiz | July 8, 2010 5:44 PM | Report abuse

Haslem is a good player, he best get some $$$ while the gettin's good. I'd love to have him here, but surely he's looking for 4-5yrs or something and hopefully Booker can be the same type of guy

Posted by: divi3 | July 8, 2010 5:55 PM | Report abuse

Besides, pending the results of the possible sign-and-trade for Bosh, I don't think that the addition of Bosh and Lebron automatically mean a championship for the Heat. Just think where Boston's big-3 would have been the year they won the Championship if not for guys like Big Baby, Perkins, or James Posey.

Miller would definitely help Miami a great deal, but I have a tough time figuring out what kind of post defenders Miami will be able to add that can slow down the improving frontcourts of the Eastern Conference. Especially since so many other teams can offer big men, big paydays.

Posted by: SportzWiz | July 8, 2010 5:56 PM | Report abuse

SportzWiz, Ernie doesn't have the guts to take Beasley off the Heat's hands. There must be so much more that we don't know about Beasley for Miami to be having such a hard time moving him.

Posted by: harrybalz | July 8, 2010 5:56 PM | Report abuse

SportzWiz, Ernie doesn't have the guts to take Beasley off the Heat's hands. There must be so much more that we don't know about Beasley for Miami to be having such a hard time moving him.

Posted by: harrybalz | July 8, 2010 5:56 PM | Report abuse

The answer is simple. Beasley is a knucklehead. And because he is a knucklehead, he does not meet one of Ted's criterias in that he wants absolutely nothing to do with one.

Posted by: Bullzards80 | July 8, 2010 6:02 PM | Report abuse

If they sign Lebron, no way Miami can meet Miller's asking price....he'd have to do a vet minimum type deal.

If Lebron is leaving Cavs, to me it looks like the Bulls offer him the best shot at what he's looking for.

Posted by: divi3 | July 8, 2010 6:02 PM | Report abuse

With Yi the Wizards have a player at the World Championships. More evidence of the teams lack of talent.


2010-12 USA Men’s National Team:

Thirty-two NBA players have been named to the 2010-12 USA Basketball Men’s National Team, including 2008 Olympic gold medalists Carmelo Anthony (Denver Nuggets); Carlos Boozer (Utah Jazz); Chris Bosh (Toronto Raptors); Kobe Bryant (Los Angeles Lakers); Dwight Howard (Orlando Magic); LeBron James (Cleveland Cavaliers); Chris Paul (New Orleans Hornets); Tayshaun Prince (Detroit Pistons); Dwyane Wade (Miami Heat); and Deron Williams (Utah Jazz). Rounding out the list of Olympians on the U.S. national squad roster are 2004 Olympic bronze medalists Lamar Odom (Los Angeles Lakers) and Amar’e Stoudemire (Phoenix Suns).

Completing the list of National Team players are LaMarcus Aldridge (Portland Trail Blazers); Chauncey Billups (Denver Nuggets); Stephen Curry (Golden State Warriors); Kevin Durant (Oklahoma City Thunder); Tyreke Evans (Sacramento Kings); Rudy Gay (Memphis Grizzlies); Eric Gordon (Los Angeles Clippers); Danny Granger (Indiana Pacers); Jeff Green (Oklahoma City Thunder); Andre Iguodala (Philadelphia 76ers); Al Jefferson (Minnesota Timberwolves); David Lee (New York Knicks); Brook Lopez (New Jersey Nets); Kevin Love (Minnesota Timberwolves); O.J. Mayo (Memphis Grizzlies); Kendrick Perkins (Boston Celtics); Derrick Rose (Chicago Bulls); Gerald Wallace (Charlotte Bobcats) and Russell Westbrook (Oklahoma City Thunder).

Posted by: djnnnou | July 8, 2010 6:13 PM | Report abuse

Sportswiz: I would not condider Michael Beasley under any circumstances,he has trouble written all over him, and bringing him back to DC is a recepie for disaster,this franchise has enough on it's hands with the likes of Gil and the Serial Skirt Chaser(AB) no need to complicate the matter any further.

Posted by: dargregmag | July 8, 2010 6:18 PM | Report abuse

OK, no more excuses.

With $9 mil dollars under the cap and money to acquire someone to fill the SF spot, let's see if Les BouleS are serious about winning or serious about bluffing.

Posted by: DC_MAN88 | July 8, 2010 7:13 PM | Report abuse

R.I.P. to Gilbert Arenas' career. He tore his ACL while conditioning in Chitown today. Sad sad sad sad sad ahhhhhhhhhhhhhhhhh. WHYYYYYYYYYYYYYYYYYYYYYYYYYYYYY. I guess picking up Kirk Hinrich and John Wall was a blessing in disguise. Good lucky to your future endeavors Gil.

Posted by: Evomaniac | July 8, 2010 7:33 PM | Report abuse

"James would make a huge financial sacrifice to leave Cleveland, with the Cavaliers capable of signing him to a maximum six-year contract for about $125 million. He would have to take a five-year deal worth nearly $100 million to leave.." -Michael Lee

-------------------------------------------

Someone really needs to explain to Michael Lee, aka the least intelligent reporter in DC, that LeBron would not be making a "huge financial sacrifice to leave Cleveland." He would be making $20.8 million per year with Cleveland and $20.0 million per year elsewhere. 800,000 a year, after taxes in his income bracket, would be roughly $400,000 per year. Hardly a "huge financial sacrifice" to someone who is worth as much money as LeBron James.

Seriously, Michael Lee, you are simply not a smart human being. My toaster has a higher IQ than you. This much we know. But perhaps you could have someone proofread your work so you wouldn't embarrass yourself and the Washington Post as often as you do.

p.s. please don't come back with any lame comment about the financial security of a 6th year vs a 5th year. I could just as easily argue LeBron would be in better position to earn another max contract at age 30 when a 5 year contract would be up than he would be at age 31 when a 6 year deal would be up.

Posted by: Barno1 | July 8, 2010 7:45 PM | Report abuse

R.I.P. to Gilbert Arenas' career. He tore his ACL while conditioning in Chitown today. Sad sad sad sad sad ahhhhhhhhhhhhhhhhh. WHYYYYYYYYYYYYYYYYYYYYYYYYYYYYY. I guess picking up Kirk Hinrich and John Wall was a blessing in disguise. Good lucky to your future endeavors Gil.

Posted by: Evomaniac | July 8, 2010 7:33 PM | Report abuse

Link?

Posted by: amalg | July 8, 2010 7:46 PM | Report abuse

There Is A Sickening Rumor Cirulating:

some other sites are reporting that news will break out of Chicago tomorrow that Gil tore his acl.

Lets hope & pray that its not true. It just cant be

Posted by: dlts2041 | July 8, 2010 7:56 PM | Report abuse

I saw the Gilbert news all over twitter. Would the Wiz get an injury exemption for his salary this year?

Posted by: bigcountry22 | July 8, 2010 7:57 PM | Report abuse

Hoping the Gil news isn't true...

So haywood gets 6 years at about 9mil each.

A question to All you joker posters that thought we should keep him (yep - that's you Larry);

Would you really want us to tie up the entire rest of our salary cap space to bring in a soft 7fter that would be 37 when his contract expired? Especially one that couldn't hold his starting job against Dampier?

Posted by: Blurred | July 8, 2010 8:07 PM | Report abuse

ESPN Sportscenter reported that the Wiz got Kirk H. and Seraphin for Veermenko.
That would be better than giving up a future 2nd round pick in my opinion.

Posted by: jeremybozz | July 8, 2010 8:14 PM | Report abuse

I can't find anything about an Arenas injury on the Internet...

Posted by: Samson151 | July 8, 2010 8:17 PM | Report abuse

If the Arenas/ACL injury ends up being a hoax, then I will be convinced it was all a planned fabricated lie to prevent him from getting traded because afterall, there will be Lebron James losers in less than 2 hours.

Posted by: Bullzards80 | July 8, 2010 8:21 PM | Report abuse

Mike Lee says it's just an ugly rumor.

Posted by: divi3 | July 8, 2010 8:23 PM | Report abuse

truth about it says the Gil rumor isnt true. man that makes me feel great. Its like Les Boulez is trying to tease us. Still, Im overall not feeling so great about Gil. I thought Grover brought him from 0-45 last year and this summer could take him from 45-90 percent back but some of the stuff I hear from him not looking good in the halfway house to him now hobbling is a downer. You never know though. Lets just hope for the best

http://twitter.com/Truth_About_It

Posted by: dlts2041 | July 8, 2010 8:23 PM | Report abuse

Mike Lee says it's not true, just an ugly rumor.

Posted by: divi3 | July 8, 2010 8:24 PM | Report abuse

"Would you really want us to tie up the entire rest of our salary cap space to bring in a soft 7fter that would be 37 when his contract expired? Especially one that couldn't hold his starting job against Dampier?

Posted by: Blurred | July 8, 2010 8:07 PM | Report abuse "

Couldn't be any worse than tying up 80 mil dollars for a non max money player whose got bad wheels and can't carry the team into the playoffs.

Posted by: DC_MAN88 | July 8, 2010 8:24 PM | Report abuse

I can't find anything about an Arenas injury on the Internet...

Posted by: Samson151 | July 8, 2010 8:17 PM | Report abuse

I hope you are right. if the story is true we could neither use him or trade him... the curse continues

Posted by: junkmail0153 | July 8, 2010 8:25 PM | Report abuse

Posted by: junkmail0153 | July 8, 2010 8:27 PM | Report abuse

Couldn't be any worse than tying up 80 mil dollars for a non max money player whose got bad wheels and can't carry the team into the playoffs.

Posted by: DC_MAN88 | July 8, 2010 8:24 PM

Gil at 80% is better than Haywood at 110%, though I'm not sure what Gil's contract has to do with someone pointing out how awful it would have been to re-up BTH at $55mill

Posted by: divi3 | July 8, 2010 8:29 PM | Report abuse

PSS several sources including the Wizzards and Michael Lee rebut the rumor that Gil tore his ACL.

RT @MrMichaelLee: Not sure where these rumors that Gilbert Arenas tore his ACL got started, but I've had it shot down by 3 people. Stop ...

Posted by: junkmail0153 | July 8, 2010 8:35 PM | Report abuse

"but some of the stuff I hear from him not looking good in the halfway house to him now hobbling is a downer. You never know though. Lets just hope for the best"

Sounds like he put on too much weight and it's a problem. I know people like to think that his "me against the world" mentality that spawned Agent0 will provide the same amazing level of motivation he had in the past to prove people wrong.....but man, it's easy for me to envision him just not having that kind of drive after what he's been through and where he is in his life now versus a few years ago when he was gunning(ha) for the Wade's and Lebron's of the league.

Posted by: divi3 | July 8, 2010 8:36 PM | Report abuse

"Sounds like he put on too much weight and it's a problem. I know people like to think that his "me against the world" mentality that spawned Agent0 will provide the same amazing level of motivation he had in the past to prove people wrong.....but man, it's easy for me to envision him just not having that kind of drive after what he's been through and where he is in his life now versus a few years ago when he was gunning(ha) for the Wade's and Lebron's of the league.

Posted by: divi3 | July 8, 2010 8:36 PM | Report abuse "

Sorry, it's one thing being motivated, and another thing having your body respond to what that motivation is trying to get it to do.

After 3 knee surgeries and still hobbling while somehow admitting to be "not right" last season.....guess what? It ain't never gonna be right anymore.

Surgery don't make the body work younger.

Posted by: DC_MAN88 | July 8, 2010 8:41 PM | Report abuse

"Gil at 80% is better than Haywood at 110%, though I'm not sure what Gil's contract has to do with someone pointing out how awful it would have been to re-up BTH at $55mill

Posted by: divi3 | July 8, 2010 8:29 PM | Report abuse "

Unfortunately for you, Gilby at 80% still cost a lot more than BTH at 110%.

BTW, pay attention. Blurred weakly argued that it wouldn't have made sense for Les BouleZ to tie up $7mil for BTH, while they're busy wasting money tying up tens of millions of dollars on Gilby.

Posted by: DC_MAN88 | July 8, 2010 8:44 PM | Report abuse

I guess Boston is signing Jermaine O'Neal to help the injured Kendrick Perkins. Be interesting to see who winds up in Miami when the smoke clears.

Posted by: Samson151 | July 8, 2010 8:57 PM | Report abuse

Why do you people keep saying overpaid? 5 or 6 mil a year is not overpaid. That's actually a bargain for a NBA franchise. Michael Beasley was in a mental institution after a supposed suicide attempt. That's why he's not being moved easily.
P.S.
Just in, Gil tears ACL in Chicago during a workout. I hope it's just a rumor.

Posted by: Akiraw | July 8, 2010 8:59 PM | Report abuse

M. Lee just commented that DC_Man88 was behind that twisted rumor...

Posted by: Bullzards80 | July 8, 2010 9:01 PM | Report abuse

"I guess Boston is signing Jermaine O'Neal to help the injured Kendrick Perkins. Be interesting to see who winds up in Miami when the smoke clears.

Posted by: Samson151 | July 8, 2010 8:57 PM | Report abuse "

Whomever else ends up there, besides hooking two of the top free agents, it will clearly be better than what certain people on this blog thought as they laughed that the Heat would be desperate enough to trade for Gilby if they couldn't get anyone.

Old news now!

Gilby most likely will be staying put in DC.

Posted by: DC_MAN88 | July 8, 2010 9:01 PM | Report abuse

OK...OK I can already hear the posters crying out "how could you help a division rival become a dynasty?" But, the train has already left the station. Why not see if your team can gain something, too?
Posted by: SportzWiz

Actually what the posters would be yelling is "Are we trying to assemble the All-Immature Team?" Beasley clearly can score, but lacks consistency, maturity, attention to detail and a defensive mindset....i.e. exactly all of the things Wizards fans have suffered through for the past 5 years. Adding another potential knucklehead to the collection of Gil, AB, McGee and Nick Young while simultaneously bringing in your 19 year old future doesn't strike most of us as a wise idea.

I don't think that the addition of Bosh and Lebron automatically mean a championship for the Heat. Just think where Boston's big-3 would have been the year they won the Championship if not for guys like Big Baby, Perkins, or James Posey.

True, but they did pick up Pittman and Varnando in the draft who will help, so they don't have to sign 3 or 4 bigs, maybe just 1 or 2. Suffice to say, playing with Wade, Bosh and Lebron (if that's the way it goes) simplifies the game quite a bit for whoever else is on the floor. They can get by with guys who only have one or two NBA skills.

Posted by: ts35 | July 8, 2010 9:02 PM | Report abuse

"M. Lee just commented that DC_Man88 was behind that twisted rumor...

Posted by: Bullzards80 | July 8, 2010 9:01 PM | Report abuse "

I know I'm powerful, but not that powerful....nor do I care enough to make up stories about Gilby.

Gilby himself is the gift that keeps giving.

Posted by: DC_MAN88 | July 8, 2010 9:03 PM | Report abuse

Wow, bummer. Via RealGM:

Mel Turpin, former Kentucky center and 6th overall pick of the 1984 NBA Draft by the Washington Bullets, was found dead in Lexington on Thursday of an apparent suicide.
RealGM Note: Turpin was initially traded by the Bullets to the Cavaliers, though he eventually ended his career in Washington after a stint with the Jazz.

Read more: http://basketball.realgm.com/src_wiretap_archives/67993/20100708/turpin_found_dead_of_apparent_suicide/#ixzz0t8w8lbqz

Posted by: ts35 | July 8, 2010 9:11 PM | Report abuse

Frontrunner!

Posted by: djnnnou | July 8, 2010 9:29 PM | Report abuse

I wonder if the Russian owner of the Nets thinks he knows something about Veremeenko that the Wizards didn't know.

We'll see.

Posted by: PostSubscriber | July 9, 2010 1:03 AM | Report abuse

I can already picture the pre-game introductions at Miami Heat games next year. All bells and whistles for their Huge-3 and then the PA gets real quiet and says "and at Center: RASHO NESTEROVIC."

I'm just saying...Everyone keeps saying how guys will flock to Miami and "take less" to play w/these guys. We're not talking about Ron Artest taking a paycut to join Kobe in LA. We're talking about the vet MINIMUM.

All I have to say about that is "Have you seen what Darko and Amir Johnson just signed for?" Miami will most likely have to "recruit" guys like Theo Ratliff and Carlos Arroyo. Don't get me wrong, I still expect the Heat to have a strong regular season and be a real threat in the post-season. I just think that Boston, Orlando, and Chicago aren't exactly shaking in their boots. Not to mention some of the studs in the West. It may take 1 more year to get all the right role players around this guys.

Posted by: SportzWiz | July 9, 2010 2:03 AM | Report abuse

Early prediction... The Heat wind up making the playoffs, in the 7th or 8th position and are knocked out in the first round. Can't win with only 3 good players... didn't the Wiz prove that over and over with Gilbert/Jameson/Butler?

Posted by: unquiltom | July 9, 2010 3:15 AM | Report abuse

Every once in a while one of the bright lights on here whines about,"Where's Veermenko???"

Well, apparently the Wizards just traded him for the 17th pick in the draft, Hinrich, and 3m cash. Not a bad return on a 2nd round pick from 2006. Not only did Ernie pull off a major trade, he retained his future draft picks as well.

Looking forward to an update on Seraphin, I understood that his knee injury would keep him off summer league team, but that he would be coming over to play this year. Hope the reports on this guy are correct.
Sounds like he's green as grass (or McGee), but the guy's strong, quick, and agile, and from what film I've managed to see, he has strong defensive instincts.

Bodywise, his build is the closest thing to a Dwight Howard that I've seen in this draft. Not saying that he's "the next" Superman. We've all seen what hanging "the next" Garnett on a guy can do...

Longterm he's the key to the deal, this deal isn't about where he'll be as a player next season, it's what his upside is, and what he'll be by year three of him and Wall playing together.

If Ernie comes out of this with an outstanding front court player to go with Wall, he's scored a coup off of Chicago's scramble to get Wade or LeBron. They ended up using some of their cap space to sign Boozer yesterday. In Chicago I'm sure they'll be watching Seraphin's development and gauging their end of the trade from it. Seraphin becomes an Allstar, they'll be howling in Chi-Town...

In the meantime Ernie's picked up a solid pro to split the point duties with Wall and hound him and push him in camp. Hinrich is just a solid NBA guard, not flashy, but a real solid pro.

Nice veteran to have around on a young, young team, the kind of guy that will set the right tone. When he talks about playing D, the young guys know it's not just talk.

Flip's got a solid Vet to put on the floor when he needs to hava a talk with his 19 yr old prodigy. Having a solid vet to put in when Wall need's some calming down, or is having a night when he's struggling is a real plus.

This deal frees Arenas to be the team's primary scorer if he's still here. If Gil can do that well in the flow of the offense, this could be a fun young group to watch.

If the Wiz trade Gil, there's just not enough proven scoring to compete on a nightly basis.

To trade Arenas, Ernie's got to score a major return, trading Gil just to grab future cap space could backfire. Right now there's a scramble by guys like Durant to sign extensions prior to a possible lockout. It will be a while before we see another FA free for all like this year.

If the Wiz trade Gil, I hope there's a real legit player in return in the deal, because the dreams of signing Durant or Melo seem to be turning into just dreams...
GM

Posted by: flohrtv | July 9, 2010 9:58 AM | Report abuse

In case anyone's interested, a funny commentary from Chicago on "Veremeenko is Finally a Chicago Bull...the Veremeenko Era"

http://www.chicagonow.com/blogs/chicago-bulls-confidential/2010/07/vladimir-veremeenko-is-finally-a-bull.html

Kudos to Ernie on keeping around the rights to a draft pick that was not good enough to play in the NBA, but had some value left as a meaningless trade filler.

Posted by: rickgonz | July 9, 2010 1:29 PM | Report abuse

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