I've read that the Chicago Bulls are still interested in J.J. Redick, even three years removed from offering him a restricted free agent contract that was front-loaded in an attempt to stop the Magic from matching. The Bulls are playing very well despite the absence of Derrick Rose and off-and-on Luol Deng, so for the purposes of this trade I am going to assume that they are more than willing to sacrifice future talent for the sake of immediate talent and a run at the Finals, rather than choosing to develop their talent to become a championship contender in the next few years
Bobcats' 1st Round Pick (via Bulls: top 12 protected in 2013, top 10 in 2014, top 8 in 2015, unprotected in 2016)
The Bulls' reasoning for this trade should be obvious. Redick is, at this point, a direct upgrade over Hamilton, and very well could be an immediate starter. They lose a decent rotational player in Butler, but the rookie Teague has only played in about half the team's games even with Rose recovering, and it's unlikely they will see the Bobcats' pick for another year or two anyway, while still keeping their own pick
The Magic, meanwhile, receive two young players they covet - Butler is a second year player that is working into rotational minutes, while Teague is only a 19 year old point guard. The Magic receive another first rounder, thereby covering exactly what they covet in a trade involving Redick. Hamilton's contract is a team option next year, so if the team doesn't care for paying a 35 year old player 5 million dollars, he can be wiped clean from the payroll. As a result of this trade, the Magic would likely cut Ish Smith in order to make room for the three players
I dunno, this is the best and most reasonable proposal I've come up with so far. What do you think?