Luol Deng to Wizards in exchange for No. 3 pick?

The Chicago Bulls are reportedly gauging the value of Luol Deng as the NBA draft approaches.

The team is rumored to have had exploratory discussions with the Washington Wizards about trading Deng for the Wizards' No. 3 draft pick.

For the deal to work, the Wizards would have to include Emeka Okafor, who is expected to pick up his $14 million player option for next season regardless of the trade.

Deng is in his final year of the Bulls contract, which will pay him more than $14 million next season.

Chicago may be looking for a player that is younger and less expensive than Deng, despite his value on the court.

The Bulls' success next season is heavily based on whether Derrick Rose returns healthy after a lengthy injury, but even with Rose healthy the team might suffer without Deng.

The Cleveland Cavaliers also have an interest in Deng, and they have the No. 1 draft pick. The team will likely be drawn into conversations later in the week, as they discuss a potential trade with the Celtics for Paul Pierce.