JULY 14TH, 5:26pm: The deal is official, the Bulls announced in a press release.
JULY 9TH, 10:47am: The deal won’t be for the minimum, but instead for slightly more than $2MM, reports K.C. Johnson of the Chicago Tribune (on Twitter). Chicago will use a portion of its $3.376MM taxpayer’s mid-level exception, Johnson adds.
JULY 7TH, 1:08pm: The Bulls will re-sign Aaron Brooks for one year at the minimum salary, reports Marc Stein of ESPN.com (Twitter link). Brooks could have signed for 20% more than the minimum via Non-Bird rights, but Chicago gets a break as its poised to pay the tax thanks in large measure to its deals with Jimmy Butler and Mike Dunleavy.
The 30-year-old Brooks served as Chicago’s primary backup point guard this past season, even starting 21 games, but little chatter surrounded his free agency, surprisingly, as his sparse rumors page shows. The Bulls thus keep their primary backcourt contributors in house, with Derrick Rose and Tony Snell under contract, Butler having agreed to re-sign and Kirk Hinrich having opted in.
Butler, a seven-year veteran, will nonetheless see a slight raise, from $1,145,685 to $1,270,964. The Bulls need only pay $947,276, the equivalent of the two-year veteran’s minimum, with the league picking up the rest. The disadvantage of the one-year deal is that Chicago can’t trade him without his consent, as he’d lose his Early Bird rights if he were traded, notes Eric Pincus of Basketball Insiders (Twitter link).