"The trade, which won't be announced until Thursday, will give the Suns one of the Bulls' second-round picks (No. 31), a future first-rounder and an undisclosed sum of cash in return for the pick.

The move is no surprise on one front -- the Bulls have been looking for a second lottery pick. They have had an infatuation with Oregon's Luke Jackson for some time and sources believe Chicago likely will select Jackson with the No. 7 pick."

The Suns were offering the pick to the Magic in a deal involving Tracy McGrayd, but the Suns decided to trade the pick to the Bulls.

The future 1st the Bulls are trading is top-3 protected next  year and top pick protected the following year.

"Why would the Suns give up a high lottery pick for only a future first-rounder? The Suns didn't feel that any player left at No. 7 would help their team immediately. They also wanted the extra cap space. By getting the No. 7 pick off their books, the Suns are suddenly looking at $16.3 million in cap space this summer to make a run at free agents."

The Suns also claim the they are no longer in talks with the Magic for McGrady.