NBA trade deadline update

5:35 update During his trade deadline news conference, Ernie Grunfeld said the Wizards made a "minor" move without announcing the deal. Turns out, according to sources, that the Wizards dealt Dominic McGuire and $300,000 to the Sacramento Kings for a 2010 second-round pick, which was far from a "minor" deal considering the financial implications. Entering the day, the Wizards were about $500,000 above the luxury tax penalty, but by moving McGuire's $825,000 contract to the Kings, they moved under the tax line - and made another $4 million. Teams that don't pay the luxury tax actually receive a dispersal check from the pool of money from teams that pay the penalty. The Wizards now have four draft picks in the 2010 draft, with two first-round picks (their own, and Cleveland's) and two second-round picks, which should be pretty high given how bad the Kings and Wizards have been this season.