Bulls Sign Daequan Cook

January 6 2013 at 10:22am CDT By Luke Adams

SUNDAY, 10:22am: The Bulls officially announced their signing of Cook, via press release. The move brings the team's roster to 14 players.

FRIDAY, 5:15pm: Cook has cleared waivers and will sign with the Bulls, according to his agent, Mike Conley Sr., Stein reports (Twitter link). Given Chicago's salary constraints, the deal will have to be for the minimum.

4:12pm: Cook has indeed cleared waivers, making him an unrestricted free agent, tweets Stein.

4:03pm: Daequan Cook was waived by the Rockets two days ago, which means he's set to clear waivers today. While it's possible that a team submitted a waiver claim for him, it's more likely that no club is willing to take on his guaranteed $3MM+ 2012/13 salary. Assuming Cook clears waivers, the Bulls are "firmly in the lead" to sign him, reports ESPN.com's Marc Stein (via Twitter).

The Bulls' roster moves this season have been limited by the club's proximity to the hard cap, which doesn't allow for much flexibility. Still, Chicago has the room necessary to take on a minimum-salary player for the rest of the year. 10-day contracts can also be signed starting on Monday, though it's not clear if Cook would be open to a 10-day deal or whether he's seeking a full-season guarantee.

Cook, 25, headed to Houston in October's James Harden blockbuster, and averaged career-lows in minutes (10.3) and points (3.4) per game in his 16 appearances for the Rockets. He was still effective from three-point range, however, with his 36.7% mark this season right in line with his career average (36.5%).

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