According to ESPN.com, the Wizards have agreed to trade for Bulls guard Kirk Hinrich and the No. 17 pick in Thursday's draft. The deal can not be completed until July 8, when the Wizards will have enough room under the salary cap to absorb Hinrich's salary without having to send anything back in exchange.
It's important to point out that because this trade can not be made for two weeks, it is possible that either of the teams backs out before it ends up being made.
Since it's a good-faith deal for the time being, there remains a chance it could fall apart. But according to one source, the Sacramento Kings are prepared to make a similar deal with the Bulls in the Wizards' stead if that were to happen.
So all we know for sure is that Kirk Hinrich is going to be on the move. For now, it seems like he is coming to Washington, but nothing is set in stone. It would be against the rules for it to be. I expect this trade to go through, but stay tuned in case something changes.
More information and reaction as it becomes available.