Amid a hectic free agency window for the NBA, the Chicago Bulls are attempting to restructure their roster for a new era.
Here’s the latest news in signings, trades and rumors around the team.
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Bulls add guard Norman Powell on 2-year deal
The Bulls addressed their shooting needs in the opening hours of NBA free agency, striking a two-year deal with guard Norman Powell on Wednesday, sources confirmed to the Tribune.
Powell signed a two-year, $45 million contract with the Bulls, per a report from ESPN. The second year of the contract will be a team option, providing Chicago with needed flexibility during a rebuild.
A first-time All-Star last season, Powell averaged 21.7 points per game for the Miami Heat last season while shooting 38% from behind the arc. Powell shot 39.6% from deep over his 11-year career in the NBA, a much-needed lift for a Bulls team that is severely lacking in 3-point depth. At 33, Powell will provide veteran leadership that a young, inexperienced team like the Bulls will require to develop talented prospects such as Caleb Wilson.
Bulls extend Zach Collins and exercise option on Leonard Miller
The Bulls extended center Zach Collins on the eve of NBA free agency on Tuesday, adding another familiar face to what was expected to be a new-look roster.
A midseason acquisition at the 2025 trade deadline, Collins has played only 38 games total for the Bulls. When healthy, Collins briefly won the starting center role as a bruising, defensive-minded presence who toughened up the Bulls at the rim, but he was badly limited by injuries, especially last season. His extension rounds out the Bulls’ center group, which includes Jalen Smith and Nic Claxton, although changes could still be on the table at this position.
Collins could be a trade asset in six months when he becomes eligible to be shopped. But the market hasn’t been terribly strong for the center, who played only 10 games last season after an unfortunate series of injuries, including a big toe sprain that required surgery. While Collins is a valuable addition to the locker room and a physical force in the paint, his physical fragility has significantly limited his output and perceived value throughout the league over the past eight seasons.
For now, at least, the Bulls don’t look all that different from last year’s lineup. They exercised a team option worth $2.4 million on Leonard Miller’s contract, returning one of the acquisitions made during February’s trade deadline spree by the last administration. Miller made a strong impression while winning a starting role in the final stretch of the season, averaging 11.7 points and 5.8 rebounds as a versatile forward option.
Still, Miller’s return means the Bulls are currently set to start next season with at least 10 players from last year’s roster despite the expectation of significant roster turnover under new executive vice president of basketball operations Bryson Graham. With 13 players on their books and roughly $23 million left in cap space, the Bulls have yet to exploit the flexibility they previously described as an asset for this upcoming season’s roster moves.
Despite the many pleas of fans, the Bulls were not in the market for any of the major players — Giannis Antetokounmpo, Ja Morant, Jaylen Brown — on the move during this explosive free agency period. Chicago is in the market for younger, less established pieces who could still become important anchors in a rebuild process that fits the years-long timeline pursued by Graham and the front office. The current Bulls roster notably lacks shooting, which should be a focal point for any new additions.
Everything can change in the coming weeks as trade talks heat up. But for now, Graham still hasn’t done much to shake up personnel.
Trade talks for these Bulls?
If Graham is going to make a stir this summer, it will have to happen through the trade market. The Bulls have a bevy of interesting, affordable players on their roster — and now, it’s time to see who can fetch a worthwhile return.
It’s worth noting that while the Bulls aren’t trying to win this season, they also can’t commit to the traditional tank job that has plagued the NBA in years past. With new anti-tanking rules — which implemented a “3-2-1” lottery system — the Bulls are not incentivized to finish with a bottom-three record in the East. The shift values retaining winning players, even for teams that don’t have their sights set on the playoffs.
Still, the Bulls would benefit by offloading a player or two with high value to recoup draft picks or take a flyer on a younger player. Although the center group is currently set, the Bulls could also be looking to deal Smith for a new option in the post.
Guard Tre Jones could be one of the most valuable trade assets for the Bulls during this stretch of the summer. He is a clutch finisher who averaged 14.1 points and 5.4 assists last season, and his charismatic presence as a leader should be welcomed on a contending side in either conference.
Even more elusive will be the Bulls’ attempts to shop guard Josh Giddey. Graham is not out on the guard’s future here, but Giddey’s unique skillset might not ultimately fit into the overall picture, which is something the Bulls have to weigh as they begin the early stages of roster reconstruction. While the guard has not piqued much interest in trade talks so far this summer, that could change as the league anticipates several paradigm-shifting moves in free agency.
One player not on the move is Patrick Williams. The forward is entering the third season of his five-year, $90 million contract after averaging only seven points and three rebounds in 20.5 minutes per game last season. His deal is rated the worst in the NBA, given a lopsided ratio of his output against his high-value contract. No other team will take on that burden with more than $50 million left to pay out.
There is some optimism within the Bulls front office that a new coaching staff and teammates could help springboard Williams closer to the high hopes placed on him after he was drafted with the No. 4 overall draft pick in 2021 — an improvement that could reposition him as an asset at future windows. In the meantime, Williams will remain comfortable in a Bulls jersey.
Selling picks — and waiving Kam Jones
The Bulls also waived Kam Jones, which transforms their draft night trade of the No. 38 pick into a simple sale for cash. This means the Bulls sold out of the second round — in which they held both the No. 38 and No. 56 pick — and received only cash considerations in return.
During a press conference last week, Graham repeatedly explained the Bulls were not interested in any of the players left on the board by the second round. Second-round picks rarely garner ample returns in a trade.
Still, for a team in a rebuild, passing on two opportunities to evaluate and potentially develop talent might feel like a repetition of old habits for a new front office.
