Washington renounces rights to Miller, Howard

While the rest of the NBA awaited LeBron James' decision where to play Thursday, the Wizards got down to official business and opened rookie minicamp ahead of the Las Vegas Summer League.

The Wizards signed three of their draft picks -- No. 1 pick overall John Wall, Trevor Booker and Hamady N'diaye -- and they renounced the rights to free agents Mike Miller, Josh Howard and Randy Foye.

And as expected, the Wizards announced the acquisition of veteran guard Kirk Hinrich, 2010 first-round draft pick Kevin Seraphin and cash considerations from the Chicago Bulls in exchange for the rights to Vladimir Veremeenko, Washington's second-round pick in 2006.

The trade was reported June 24, the day of the 2010 NBA Draft, but could not become official until the NBA's new salary cap was in effect and the moratorium on trades was lifted, which took place at 12:01 a.m. Thursday.

The 2010-11 salary cap was unveiled Wednesday at $58.044 million, a surprising increase of $344,000 from the previous season and nearly $2 million higher than had been predicted earlier in the year.

If Seraphin signs, the Wizards will be left with an estimate of slightly less than $10 million remaining to pursue any other free agents.

Among the players on Washington's summer league roster are third-year center JaVale McGee and Maryland guard Eric Hayes.

Seraphin will not participate in the summer league because of an knee injury.