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Basketball news gathered from around the net.

Bulls Chose To Pay Luxury Tax Over Relinquishing First Rounder

The Chicago Bulls attempted to unload the contract of Richard Hamilton at the deadline in order to get under the NBA's luxury tax line.

Teams that were in talks with the Bulls attempted to acquire a first round pick from the Bulls in exchange for Hamilton, according to multiple sources.

The Bulls will pay the luxury tax this season for the first time in franchise history.

Via Zach Lowe/Grantland

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