After the selection of Kevin Seraphin, a 6-10 power forward from France, with the 17th pick of the first round, Bulls general manager Gar Forman released a statement and essentially confirmed the reported trade that will send Kirk Hinrich and the 17th pick to the Washington Wizards.
"This evening we selected Kevin Seraphin with the 17th pick of the NBA draft," Forman said. "At this time, we are currently in discussions to trade our draft rights to Kevin Seraphin. However, we will not be able to complete a trade until after the moratorium period concludes on July 8.
"With that said, we are not at liberty to identify the team we are talking to or reveal any other specifics of potential trades. Therefore, we will have no comment on this selection until we have completed all trade discussions."
The trade was agreed upon Thursday afternoon, but can't be completed until July 8 when the Wizards will have the salary-cap room to take on Hinrich's $9 million salary for next season.
The Bulls will receive a future second-round pick in exchange.