According to Hoopsworld, the Bulls may be selling #26.
Chicago - The
Bulls already have a loaded roster and a ton of guaranteed money for
next season, so a lot of smart basketball people seem pretty sure
they'll trade their second first round pick in this year's
draft. They'll use the #16 but are likely to auction off the #26.
This is interesting to me. Not so much because I feel the Bulls need to keep #26, but selling off first round picks rarely makes sense for teams in financial trouble. The salary for this 1st rounder is going to be around $1 million.
The Bulls can save about 500k by signing someone at the minimum instead, but that's an awfully small amount of money vs having a capable player locked into a contract for four years at under $1.5 million the entire time (though remember to multiply these numbers by 1.2 as the actual salary can deviate by as much as 20% either direction, and in practice always deviates by 20% upwards).
The only reason to sell a pick in this range is if you don't feel the players available can be productive at the NBA level or you get something more productive in the future. For saving cash, it makes little sense to shed a pick in this range. The cash savings is so minimal relative to the potential to get a guy who vastly outperforms his contract.