I'm sure most of you remember Tech N9ne, the guy with the Rumor Press site that apparently scooped the Brad Miller trade, yet has been "wrong" on most else. Anyway, skipping the preamble, here's the juicy part:

With much of the off-season complete, look for the Bulls to button up final roster decisions. The Bulls are interested in Tracy McGrady and rookie Malcolm Thomas, with likely 2 year deals being offered to both, but management is looking to shed salary before making a decision. The team is practically willing to give away Rip Hamilton with no takers so far. The Bulls and Cavs have engaged in talks about Hamilton. The Cavs are interested in adding some depth at the two guard stop, but are weighing other options before making a decision on Hamilton. If Rip is shipped to Cleveland, the Bulls would likely move faster in signing Thomas and McGrady.

No mention of the Bulls taking back any salary in return or adding Teague into a deal. They'd get another $5 million trade exception, which is basically useless right now with the hard cap. But more importantly, it'd bring total salary below the tax, with enough room under to add another veteran at the minimum, or possibly even two veterans if successful in low-balling Teague.