If I were the GM of the Chicago Bulls.....

[Jay]

I would....

Keep Hinrich AND Gordon. Seems crazy but played well when they went small, and had Salmons play the 4 and maybe Deng could do the same. They should not be so concerned with paying the luxury tax for one year.
Trade Tyrus Thomas to Memphis or OKC for their 1st round pick or for a pick next year.
Draft B.J. Mullens at 16,  and Tyler Hansbrough at 26.

Rose Hinrich
Salmons Gordon
Deng Salmons
Noah Hansbrough
Miller Mullens

I think Toronto will ask for a lot for Bosh, which scares me to think of what if he gets hurt and what do we have left? Bosh, even when he had a decent supporting cast couldn't get deep into the playoffs.
I'd rather much have the mold of the Detroit Pistons a few years back: A solid TEAM w/ continuity. They aren't as good yet, but there's still room to grow.

I think they'll still have enough money because of expiring contracts for next summer to make a run at someone or multiple players if needed.
If not, then trade Hinrich or Deng at the deadline.

[Jay]

Let's say the Bulls re-sign BG to a similar contract to Deng just as a starting point (He'll probably want more)
According to hoopshype's salary page, these are the projected payroll for 2009-10 if Chicago does nothing but draft two players. 

Player      09-10
Rose              $5,184,180
Salmons      $5,456,000
Deng           $10,370,425
Noah              $2,445,680
Miller             $12,250,000
Gordon     $10,370,425
Hinrich      $9,500,000
Ty. Thomas      $4,743,598
Mullens      $1,677,840
Hansbrough      $1,075,440
Tim Thomas   $6,466,000
James      $6,600,000
   
Total            $76,139,588

That is a bit high since only 5 teams had a higher payroll than that total, but take into account that I'm still counting Jerome James' salary.
After Miller's, Tim Thomas' and James' contract expire and Tyrus Thomas gets let go or is traded here is what the Bulls are approximately left with. Again this is not 100% accurate, I am just painting a picture (And a not so pretty one so far at that)

Going into the summer of 2010 this is what I came up with:
Player     10-11
Rose             $5,546,160
Salmons     $5,808,000
Deng           $11,335,850
Noah             $3,128,536
Gordon   $11,335,850
Hinrich     $9,000,000
Mullens         $2,000,000
Hansbrough     $1,600,000
   
Total            $49,754,396

Cap space becomes available to sign someone like Bosh or Amare (If he opts out).
If not, they can pay Salmons to a new deal and Miller (If he does not retire by this time) to maybe a little less than the MLE, and still get one or two more quality free agents.

I think they could make this work, and I know that the NBA is much more complicated that just adding numbers.
I don't know but that's what I would do.

[ChitownBulls]

Thats a ton of money going into 2010.

[ivosucks22]

Wow, outside of the Celtics two years ago (who actually got value in their trades) I've never seen a team blown up so much in one offseason.  Guess what, I think Paxson made most of his franchise changing moves for the next year and a half.  The smart thing for him to do is make sure he has the cap position he wants in 2010, and stand pat on a team capable of a 4 seed next postseason.  Wade or Lebron are going to bring titles to Chicago, no one else will even come close, that especially goes for Chris Bosh. 

Well if the only way you think your gonna win a title is if you get Wade or Bron then you're not gonna win. Wade is already in contract extension talks with Miami, and Lebron is staying in Cleveland or going to NY.

[ChitownBulls]

+3

[Jay]

Thats a ton of money going into 2010.

Yeah thinking about it again that's true.
Personally I would love to have BG back, but not if it means trading Hinrich.
So rather than paying Gordon I would do one of these things:
-Let him go and make a play for David Lee
-Sign and trade him to Detroit for Rip Hamilton (Although I doubt either side will really pull the trigger)
-Let him go for nothing

If all we're missing is his scoring, then I'd trade up to get Stephen Curry or Trade Tyrus Thomas for a pick to get Ellington late in the first and a second rounder later on in the draft.

I would also take a chance on Ike Diogu and sign him to a one year "show me" deal.

My revised depth chart:
Rose  Hinrich
Salmons  Ellington
Deng  Salmons  Tim Thomas
Noah  Hanbrough  Diogu
Miller  Noah  Mullens

Replaced a shooter in BG with Ellington, replaced Tyrus Thomas with Hansbrough and Diogu, and got a center to develop in Mullens, so basically I got rid of most of the inconsistency.
This team may lack a superstar but it should leave enough cap space do something next summer, and we may even see a breakout year for DRose like we did with CP3 and Deron Williams.