As E noted today over at NBC, the latest trade rumor swirling around the Bulls was another three-way deal, this time involving the Suns and the Timberwolves. Amare (Amar’e) Stoudemire would come to the Bulls, Kirk Hinrich and Thabo Sefolosha would go to the Timberwolves, and the Suns would get Tyrus Thomas and Drew Gooden. This all comes from the nimble fingers of Adrian Wojnarowski over at Yahoo! Sports.

But, let’s hold the horses on that guy for right now. Because, according to David Aldridge over at NBA.com, the Bulls have made another deal.

The Kings agreed on Wednesday to a trade that sends forward John Salmons and center Brad Miller to the Chicago Bulls in exchange for forwards Drew Gooden and Andres Nocioni, according to league sources. The deal will reduce Sacramento’s obligations next season, saving the Kings millions on the salary cap and keeping them well under any potential luxury tax payments. Gooden, making $7.15 million this season, will likely come off the team’s cap after this year, and now, the team is free of the $5.4 million due to Salmons in 2009 and the $12 million due to Miller in ‘09.

Chris Sheridan of ESPN reports the Bulls also sent Cedric Simmons and Michael Ruffin to the Kings, and the Kings turned right around and shipped Ruffin to Portland for Ike Diogu and cash.

OK, so here’s how this breaks down: the Kings are able to dump a bunch of salary off the books as they take on an expiring contract in Drew Gooden, and give Salmons to the Bulls. (Also, Nocioni’s contract actually declines in salary in 2010 and 2011.) The Bulls, in turn, get a center in Miller who has nearly identical stats to Gooden. The Bulls keep all their young trade bait intact, and they have the option of dealing Miller (perhaps with them) next year as his contract expires in 2010. If not, the Bulls clear more space on the payroll to go after that ridiculous free agent class in the summer of 2010. I suppose this is what we in the business call “a lateral move.”

That’s unless, of course, the Suns totally want Brad Miller and the Bulls are going to deal him immediately for Stoudemire. Ha. Or maybe the Bulls got Miller in hopes of softening the blow if they still part ways with Thomas or Joakim Noah before the deadline.

I wouldn’t count on either of those two scenarios, though.