4:48pm: Chicago has announced that the move is official via press release.
2:08pm: The Bulls had already made the cuts necessary to get down to 15 players, but they aren’t done yet. According to Jeff Goodman of ESPN.com (via Twitter), Chicago has also waived Spencer Dinwiddie, reducing the team’s roster to 14 players.
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It’s been an eventful few months for Dinwiddie, who finished the 2015/16 campaign with the Pistons, having averaged 4.8 PPG and 1.8 APG in 12 contests for the club last season. Detroit sent Dinwiddie to the Bulls in a trade for Cameron Bairstow, and Chicago subsequently waived the 23-year-old in order to clear the cap room necessary to sign Dwyane Wade. The Bulls later re-signed Dinwiddie to a new deal.
Dinwiddie’s new two-year, minimum-salary contract was fully non-guaranteed, but he would have been in line for a $400K guarantee if he had remained on the Bulls’ roster beyond November 1. Rather than carrying him on the opening-night roster and then cutting him a few days later, it seems Chicago simply waived him now to avoid paying that partial guarantee.