Another team has pulled out of the J.J. Redick sweepstakes as the Chicago Bulls have reportedly “cooled” on pursuing a trade for the guard. According to CBSSports Ken Berger, the Bulls initially showed interest in trading for the Magic guard but Orlando wants too much in return for him and Chicago has folded their hand.
Ever since making him available, the Magic have been asking for at least a first round pick in exchange for Redick but few teams have bit on this offer. There are teams with interest in Redick like the Spurs, Wizards, Bucks and Sixers but the Knicks and Bulls have pulled their names out of the running due to the high demand by the Magic.
Frankly, the move is bad for Bulls fans hoping a trade for Redick would get done but it’s good in the long run of the franchise. The Bulls have serious luxury tax issues brought on by an owner who is reluctant to ever pay the tax. Because of this the Bulls likely wouldn’t have been able to retain Redick at $7 million-plus per year and would have basically given up a first round pick for a half-season rental.
The Bulls apparently are also going to hang onto Rip Hamilton as everyone they’ve called about a possible trade has demanded a draft pick be thrown in along with the guard. Chicago wants to shed Hamilton’s salary to avoid paying the luxury tax but they aren’t high on the idea of giving up a draft pick in the process.
As we get closer and closer to the trade deadline the number of teams looking to make a deal will dwindle down to only those serious about a transaction. The Bulls fall under the category of team that wanted to make a deal but ultimately didn’t have what it took to part ways with certain assets to make it happen.