Chicago Bulls' Kirk Hinrich defends against New Jersey Nets' Devin Harris during the fourth quarter of an NBA basketball game Wednesday, Feb. 25, 2009 in East Rutherford, N.J. The Nets beat the Bulls 111-99.

DEERFIELD, ILL. ? The Chicago Bulls agreed to trade veteran guard Kirk Hinrich and their first-round pick to the Washington Wizards for a future second-rounder on Thursday, a person familiar with the situation said, creating enough salary cap room to go after two star free agents.

The person spoke on the condition of anonymity because the deal can’t become official until July 8, when the new salary cap takes hold and the Wizards can take Hinrich’s $9 million salary for next season without having to send back something of similar financial value.

The Bulls will receive a future second-round pick in the deal, which was first reported by ESPN.