Chicago Bulls Officially Trade Salmons to Bucks and Tyrus Thomas to Bobcats

After the Chicago Bulls officially traded John Salmons to Milwaukee for the expiring contracts of Hakim Warrick and Joe Alexander on Thursday, the Bulls have traded Tyrus Thomas to the Charlotte Bobcats for Acie Law, Flip Murray, and a "protected" first-round draft pick pending league approval.

Protected first-round pick means the Bulls cannot have a lottery pick if the Bobcats happen to be awful one year. They will have to wait until the following year if that is the case.

On another note, as part of the Salmons' deal, the Bucks have the option of switching first-round picks with the Bulls in next season's draft provided the Bulls do not have a top 10 pick. The Bucks also received second-round draft picks in 2011 and 2012 from the Bulls.

Overall, the Bulls receive a first-round pick, four players who will come off the books next season, and $5.8 million toward next season's free agency extravaganza, bringing the Bulls around $20 million below the salary cap—all while finally ridding the team of Tyrus Thomas.

Not too shabby considering the Bulls did not lose much for this season. The team remains a playoff contender even without Salmons and Thomas, while at the same time, have picks and money to build for the future. 

Jannero Pargo is rumored to possibly be the next Bull on the move.