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The Kansas product was acquired by the Hornets on January 4 as part of a three-team trade involving the Grizzlies and 76ers.
The former Maryland standout was dealt to New Orleans in December.
The Wizards were just 51-130 under Saunders. The team won only 19 games the year before Saunders arrived and improved to 26-56 in 2009-10, but finished just 23-59 in 2010-11 before this season's abysmal start.
Saunders has also been the head coach at Minnesota and Detroit, and owns a career record of 638-526.
Augustin re-aggravated the injury during to the first quarter of Sunday's game at New Jersey.
He is averaging 13.6 points, 6.6 assists and 3.1 rebounds in 17 games this season.
Deng told reporters that he will attempt to play through the injury after a bit of time for healing.
James, the 24th overall pick in the 2010 draft, started the first seven games of this season, averaging 4.9 points and 4.7 rebounds, before re- aggravating the injury.
The 26th-overall pick of the 2010 draft has career averages of 3.2 points, 1.5 rebounds and 11.9 minutes through 82 games with New Orleans and Memphis.
Love, who has registered a double-double in 16 of 17 games this season, would become a restricted free agent if the sides don't complete a deal before an 11 p.m. deadline.
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Game Joins Numbers From Overtime
Academy Award Betting Odds for Best Picture Offer Great Value
If there is any category that is not an obvious win for any one nominee in this year's Academy Awards, it would be for Best Picture. Sure the Departed is a 5/7 favorite, but that's hardly anything when we look at Helen Mirren and her "out-of-reach" 1 to 40 odds (which means you would win a whopping $1 for every $40 bet).
For value, take a look at MySportsbook.com Oscars betting odds on my personal favorite, The Queen - a remarkable 12 to 1 long shot. The film hasn't won any pre-awards for Best Picture (compared to The Departed and Little Miss Sunshine), but there is a tremendous following and it is a strong enough film to warrant a surprise win.
TV Guide advises Oscar watchers should be cautioned not to discount the drama "Babel" with its strong social themes about overcoming communication gaps among people of different cultures.
"While 'Babel' lost several guild awards to 'Sunshine' and 'Departed,' it still enjoys loyal support, and historically Oscar voters favor dramas with social messages over comedies like 'Sunshine' and violent crime movies like 'Departed'."
"It hasn't done well in the guilds, which means there isn't much industry support," said Tom O'Neil of awards site TheEnvelope.com, "But several critics are expecting it to win, and that gets my attention." Babel had 7 to 2 odds at press time.
Who is to say independently produced Little Miss Sunshine won't be this year's Crash. Last year, Crash won for Best Motion Picture, shocking those who bet on gay cowboy flick, Brokeback Mountain, as the favorite to win.
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