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Bulls trade deadline review: Chicago stays put, will pay luxury tax for first time

The Chicago Bulls had been looking to cut payroll before the deadline, possibly dealing Rip Hamilton, but instead, they didn't make any moves -- good news for their short-term on-court success, bad news for their finances.

Jared Wickerham

The Chicago Bulls stood pat at the trade deadline, likely helping them on the court in the short-term, but ensuring they'll pay the luxury tax for the first time in franchise history.

There were a few deals the team was linked to with finances in mind: Rip Hamilton was supposedly on the block, and there was talk of the team sending Carlos Boozer and his $15 million contract to Toronto for Andrew Bargnani.

But with the deadline past, the team decided to pay up rather than make trades that would hurt the team. The Raptors trade fell through, and the Bulls were allegedly unwilling to give up a first-round pick in addition to Hamilton just for the ability to avoid paying the luxury tax, and as Blog a Bull wrote, their "financial championship dynasty" is over.

For most, that's probably a good thing. Fans tend not to like when their team makes moves for monetary reasons, and now, we know for sure that team won't trade away parts that could be useful with the playoffs approaching. However, there was one major detractor: Derrick Rose's brother, Reggie, who feels the team is setting itself up for future failure by not taking care of its finances.

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