Chicago ? In an ideal world, Kirk Hinrich would have his contract extension out of the way by the time he begins practicing Wednesday with USA Basketball’s Senior National Team.

“A lot of these guys who are going to be on the team have long contracts,” the Bulls point guard said. “I don’t have much left on mine. I could sign this summer, but I don’t know.”

“I definitely want to be here,” Hinrich, a former Kansas University standout, said. “I’d like to get a deal done this summer. Whether that will happen or not, I don’t know. I want to be here forever, but I don’t know what’s going to happen.”

There is no question Hinrich is in line for a five-year extension. Bulls general manager John Paxson has said signing Hinrich to a long-term deal is atop his priorities, but he first must finish a flurry of deals.

“I’m going to do whatever I can to get a deal done with Kirk Hinrich because he is so important to our organization,” Paxson said.

Paxson already has added veteran Ben Wallace in free agency this summer. Wallace was introduced as a Bull on Thursday evening after he signed a four-year contract worth $60 million.

Chicago Bulls guard Kirk Hinrich, left, defends against the Milwaukee Bucks' Michael Redd. Plans are in the works for Hinrich, a former Kansas University standout, and the Bulls to agree on a big-dollar deal in the near future.

Paxson’s other moves include trading Tyson Chandler to the Hornets for P.J. Brown and J.R. Smith. On draft night, he acquired rookies Tyrus Thomas and Thabo Sefolosha and third-year forward Viktor Khryapa via trades.

Another trade or signing could come soon. The announcement of the salary cap for next season, at $53.135 million, is bound to produce another round of deals around the league. Paxson still is considering his next move.

In the meantime, Hinrich is waiting. He can play with the USA National Team without worrying about suffering an injury and possibly facing a financial setback because he will have insurance. Paxson did not give a timetable for contract negotiations, but last spring he said he expected to extend Hinrich’s contract in August.

The wait should be worth it for Hinrich, the cornerstone of Paxson’s tenure as boss.

Hinrich won’t be in line to make the maximum – the Nuggets’ Carmelo Anthony signed up for a five-year deal at about $79 million while the Heat’s Dwyane Wade and the Cavaliers’ LeBron James opted for shorter terms – but he nevertheless should be about $50 million richer.

If Hinrich turns down an offer, he would become a restricted free agent after the 2006-07 season, but the Bulls still would be front-runners to re-sign him.

“They say they want to re-sign me for the long term,” Hinrich said. “Paxson and [coach Scott] Skiles always have seemed like men of their word to me. I’m excited for that to come, to lock it up and get some security.”

Getting the contract extension is only a piece of what promises to be a memorable summer for Hinrich.

Typically, Hinrich spends the offseason working out on his own. This summer he will be surrounded by the NBA’s elite while working out with Team USA. Wade, James, Anthony, Kobe Bryant and Elton Brand are some of the game’s biggest stars who are expected to represent the United States at the World Championships in Japan next month.

Hinrich, too, is expected to make the team from tryouts in Las Vegas. He turned down an invitation to join the team in February but accepted immediately when USA managing director Jerry Colangelo tried again by reaching out to Paxson.

“When I initially turned it down, I don’t know if I really knew what I was doing,” Hinrich said. “It was in the middle of a long season. I was focused on what we were doing. After the season was over, I was thinking that I someday might regret it. To get another chance to reconsider, I feel lucky.”

USA coach Mike Krzyzewski called Hinrich a terrific addition.

“He is an excellent passer and the kind of guard who excels in an up-tempo offense,” Krzyzewski said in a statement. “It is obvious he is getting better each season.”

The rest of his summer will be eventful, but Hinrich knows there is also a lot to look forward to with the Bulls next season, especially with Wallace’s arrival.

Hinrich said he was in disbelief when he heard the 6-foot-9-inch forward and four-time defensive player of the year agreed to terms with the Bulls.

“I had to hear it three times,” Hinrich said. “We welcome him with open arms. You couldn’t have picked a better guy to be on our team as far as a center goes.”