Seeking salary cap space, the Philadelphia 76ers traded Kyle Korver to the Utah Jazz for Gordan Giricek and a first-round pick.

Giricek's contract is expiring while Korver is under contract for three more years after this season.

Sixers head Ed Stefanski told the media that the pick is protected.

The first year the pick can be granted is in 2009 and there are different protections for each year.

Stefanski estimated that the Sixers will be $10 million under the salary cap next season, which would be the most room any team has.

?We felt this was a move for the plan that we have made to look to try to secure cap space in the summer,? Stefanski said via conference calls. ?The pick could be a player or a chip in a future trade.?

Thaddeus Young, Willie Green, Rodney Carney and Lou Williams will benefit with more playing time from Korver's departure.

?Kyle, even though I haven?t been personally here in his career, I?ve seen his work from afar and he is a good basketball player that you hate to lose,? Stefanski said.

Stefanski said Korver showed his high character when notified of the trade.

?He was gracious,? Stefanski said. ?He is a terrific young man.?