Chicago Bulls Rumors | Hoops Rumors

Odds & Ends: Lin, Bulls, Cavs, Nuggets

July 23rd, 2012 at 9:53pm CST by Zachary Links

The craze of Linsanity dominated the pages of Hoops Rumors for several months and extended into the offseason, where the Rockets unexpectedly managed to pry Jeremy Lin away from the Knicks. Lin admitted to Marcus Thompson II of the Bay Area News Group that in some ways, the hoopla went to his head. However, Lin believes that he is now well-equipped to deal with the hype and isn't concerned about living up to it in Houston. Here's a look at tonight's news from around the Association..

The Bulls bench has gotten a complete overhaul this summer, writes Nick Friedell of ESPNChicago.com. Chicago appears set to sign Nazr Mohammed to replace Omer Asik and reached agreement with Marco Belinelli on a one-year deal earlier this evening.
The trade rumors surrounding a blockbuster three-way trade involving the Cavs, Dwight Howard and Andrew Bynum have quieted down, and Bob Finnan of the News-Herald doesn't expect the deal to go down this summer. Meanwhile, the Magic have told rival execs that they might not trade Howard at all.
While some clubs seem to be putting all of their eggs in the basket of landing one or two mega-stars, the Nuggets are busy building a franchise their own way, writes Zach Lowe of Sports Illustrated. GM Masai Ujiri would love to land a top-ten talent, but the team is in position to be competitive regardless. I would argue that the new-look Nets are also following a similar gameplan.

The Bulls And The Salary Cap

July 23rd, 2012 at 3:54pm CST by Luke Adams

Based on recent reports indicating that the Bulls have signed Kirk Hinrich for $8MM over two years, and are close to a deal with Marco Belinelli worth the bi-annual exception, the outlook for the Bulls' 2012/13 cap has changed. Because they've decided to use the BAE and exceed the $3.09MM mid-level allotted to taxpaying teams, the Bulls will now have a hard cap for the coming season. At no point before next July will the club be permitted to exceed about $74.3MM in team salary.

For a better idea of what this means for Chicago, let's check out the team's known salary commitments to date:

Derrick Rose: $15,506,632
Carlos Boozer: $15,000,000
Luol Deng: $13,305,000
Joakim Noah: $11,300,000
Richard Hamilton: $5,000,000
Taj Gibson: $2,155,811
Jimmy Butler: $1,066,920

Already, the total cost of those seven players brings the Bulls' payroll to $63,334,363, leaving about another $11MM to spend. The team will need to fit in contracts for Hinrich, Belinelli, Vladimir Radmanovic, Nazr Mohammed, and Marquis Teague, so let's take our best shot at calculating the total cap hit for those figures:

Kirk Hinrich: $3,900,000
Marco Belinelli: $1,957,000
Marquis Teague: $1,028,400
Vladimir Radmanovic: $854,389
Nazr Mohammed: $854,389

We can't be sure these numbers are 100% correct — Hinrich's first-year salary is an estimate based on his reported total, and in the case of Belinelli and Teague, I'm assuming they receive, respectively, the full bi-annual exception and 120% of the rookie scale amount. The league will cover a portion of Radmanovic's and Mohammed's veteran-minimum deals, reducing their cap hit slightly, but these figures still amount to $8,594,178. Add that to the aforementioned total and we're up to $71,928,541 overall. That would leave just $2,378,459 for the Bulls to spend before next July, which will make it challenging to bring aboard replacement players if the team has any injury problems.

Again, we don't know with absolute certainty what the Bulls' books look like, and the reported figures for free agent signings could be slightly off — not only that, but the Belinelli and Mohammed deals haven't even been finalized yet. Based on the numbers we know so far though, it appears Chicago isn't giving itself much wiggle room or roster flexibility for the coming season.

A hard cap would mean that the team absolutely can't match the Rockets' offer sheet for Omer Asik, though that was looking extremely doubtful anyway. It would also mean that the Bulls likely wouldn't be in a position to use their $5MM trade exception (acquired from the Hawks for Kyle Korver) until next July, when the hard cap is lifted.

Perhaps the cap restrictions facing the Bulls won't ultimately matter a whole lot, in a season in which expectations have been lowered due to Derrick Rose's health. While the Bulls' decisions could make it difficult to add salary in 2012/13, it won't affect cap flexibility in future seasons, when the club could be in better position to make a title run.

Storytellers Contracts was used in the creation of this post.

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Chicago Bulls

Bulls Sign Kirk Hinrich

July 23rd, 2012 at 1:37pm CST by Daniel Seco

1:37pm: Hinrich's two-year deal will pay him roughly $8MM, says K.C. Johnson of the Chicago Tribune. In that case, Hinrich will receive more than $3.09MM in year one, meaning the Bulls are using their full mid-level exception, hard-capping their 2012/13 team salary at about $74.3MM.

JULY 23RD, 12:33pm: The Bulls have officially signed Hinrich, the team announced today in a press release. Since Chicago couldn't work out a sign-and-trade with Atlanta, the deal is expected to consume the team's full taxpayer mid-level exception.

JULY 8TH: The Bulls have reached a verbal agreement on a deal with free agent guard Kirk Hinrich, reports K.C. Johnson of the Chicago Tribune (via Twitter). While details are still being finalized, Hinrich is expected a receive a two-year, $6MM contract from the Bulls. Hinrich returns to the franchise that drafted him in 2003 after spending parts of the last two seasons with the Wizards and Hawks.

By adding Hinrich to their backcourt, the Bulls have given themselves more stability at the guard position with Derrick Rose on the shelf for at least a portion of the upcoming season. The former Kansas star averaged 6.6 PPG and 2.8 APG in 48 games during the 2011/12 season.

Bulls Notes: Rose, Asik, Belinelli, Gibson

July 23rd, 2012 at 11:43am CST by Luke Adams

In his latest piece for the Chicago Tribune, K.C. Johnson recalls a statement Bulls GM Gar Forman made less than a month ago, on draft night: "Our decisions this summer will be basketball decisions, not financial decisions." Based on the Bulls' moves so far this offseason, particularly with the team on the verge of losing Omer Asik and getting nothing in return, it's hard to argue that finances haven't been strongly considered, as Johnson writes. Here are a few Bulls-related updates from his column:

Derrick Rose will "likely" be out until March, according to Johnson. We'd heard before that Rose probably wouldn't be back until the new year, but if the March ETA is accurate, that would mean the star point guard would miss most of the regular season.
The Bulls still plan to clear major cap space for the summer of 2014 to be a player on the free agent market. Luol Deng's contract will expire that summer, and Carlos Boozer will likely be amnestied by then, leaving Rose and Joakim Noah as the only big investments left on the team's books. If Chicago is hoping to clear enough space for a maximum-salary player that summer, it's a little easier to understand why the club wouldn't want Asik's $14.9MM salary for 2014/15.
Speaking of Asik, the Bulls still haven't officially informed the Rockets of their decision on the center's offer sheet, but league sources tell Johnson that Rockets management believes Houston will land Asik.
The Bulls "appear close" to signing Marco Belinelli, as we heard on Friday. As Johnson points out, spending the bi-annual exception on Belinelli would hard-cap the Bulls at about $74.3MM this season, and with payroll already approaching that figure, I'd be surprised if the team imposed that kind of inflexibility on itself. We'll see if the Bulls can land Belinelli for the veteran's minimum instead.
Extension negotiations for Taj Gibson are "next on the docket" for Chicago, says Johnson.
Johnson adds that one factor to watch this year as the Bulls weigh "basketball decisions" and "financial decisions" is whether the team spends the $5MM trade exception acquired in the Kyle Korver deal.

Poll: Should Bulls Match Asik’s Offer Sheet?

July 22nd, 2012 at 6:32pm CST by Zachary Links

Earlier today, it was reported that the Bulls are expected to pass on matching the three-year, $25.1MM offer sheet that Omer Asik signed with Rockets. Houston managed to land the restricted free agent with a gameplan eerily similar to the one they used to ink Jeremy Lin. While the Bulls made it known publicly that they planned on matching any offer, it turns out that the hefty, backloaded deal was too rich for their blood.

Are the Bulls making a mistake by letting the 7'0" center walk? Mark Potash of the Chicago Tribune certainly doesn't think so. Potash writes that the $15MM cap hit that Asik would carry in the final year of the contract would loom over the team and simply wouldn't be worth it for a player who is as offensively challenged as Asik. While the Turkish big man shines in the low post defensively, he averaged just 3.1 PPG in 14.7 minutes per contest which would translate to 7.6 PPG per 36 minutes. Of course, it's hard to imagine Asik seeing that much playing time as he is firmly entrenched as a member of the club's second unit.

Still, even Potash admits that Asik's presence will be missed when the Bulls go head-to-head with the Heat. And while the Bulls found a suitable backup in Nazr Mohammed, it's hard to imagine the club getting similar output from him. It's your turn to weigh in – are the Bulls making a mistake in letting Asik go?

Should The Bulls Match Asik's Offer Sheet?

No 88.50% (1,654 votes)

Yes 11.50% (215 votes)

Total Votes: 1,869

Raptors In Serious Talks With John Lucas III

July 21st, 2012 at 9:20pm CST by Luke Adams

SATURDAY, 9:20pm: Lucas has received a two-year, $3.0MM offer from the Raptors, with the second year of the contract being a team option, tweets Mark Deeks of ShamSports.

WEDNESDAY, 4:46pm: The Raptors are "in serious talks" with John Lucas III, reports Marc Stein of ESPN.com. According to Stein, Toronto is close to a deal to sign Lucas away from the Bulls, with Chicago resigned to losing the 5'11" guard.

The Raptors have been considering signing a third point guard to play behind Kyle Lowry and Jose Calderon, and perhaps become Lowry's primary backup if Calderon is traded. While Lucas is hardly a big name, he had a quietly effective season for the Bulls in 2011/12, as we noted earlier today in our list of top remaining free agents by PER. The 29-year-old's 16.3 PER puts him second among available point guards. Lucas also averaged 7.5 points and 2.2 assists in 14.8 minutes per game, all career highs.

Central Rumors: Bynum, Scott, Greene, Scalabrine

July 20th, 2012 at 10:37pm CST by Chuck Myron

The Cavs and Bulls have been in the news a lot lately, with talk of a three-way trade that would send Andrew Bynum to the Cavs dominating headlines in Cleveland while the Bulls await the arrival of the offer sheet Omer Asik signed with the Rockets. The Cavs also claimed Jon Leuer off waivers today, while the Bulls are in advanced talks with Marco Belinelli and reportedly pursuing E'Twaun Moore. We've got more on these two busy Central Division teams here:

Cavs coach Byron Scott denies having a close relationship with Andrew Bynum, which has been cited as a reason why a trade sending Bynum to Cleveland would work, Mary Schmitt Boyer of the Plain Dealer reports. "I don't know who wrote that, but I've read that as well," Scott said. "No, we're not very close. We're not very close at all."
Donte Greene is in conversations with a few teams, but hopes to sign with the Bulls, tweets Scott Howard-Cooper of NBA.com. The team has yet to make him an offer, Howard-Cooper adds. The Kings declined to tender a qualifying offer to the 6'11" forward in June, making him an unrestricted free agent.
Free agent Brian Scalabrine will not be back with the Bulls next season, as K.C. Johnson of the Chicago Tribune notes at the bottom of a larger look at the team's offseason.

Agent Says Knicks Eyeing Shooting Guards

July 20th, 2012 at 7:06pm CST by Chuck Myron

Jared Zwerling of ESPNNewYork.com reports the Knicks have interest in unrestricted free agents Sonny Weems and Maurice Evans, according to Roger Montgomery, the agent for both players. The Knicks are seeking depth at shooting guard with Iman Shumpert out until January and J.R. Smith the only rotation-caliber two-guard on the roster, but have only the veteran's minimum at their disposal, as Zwerling points out.

The Knicks could also be a candidate for Randy Foye if the Clippers consent to a sign-and-trade, writes Jerry Zgoda of the Star Tribune, also identifying the Suns, Bucks and Bulls as Foye suitors (Twitter link). Foye spent most of last season in the starting lineup for the Clippers, averaging 11.0 points, 2.2 assists and 2.1 rebounds with a 13.5 PER.

The 26-year-old Weems spent last season playing overseas after averaging 9.2 points, 2.6 rebounds and 1.8 assists for the Raptors in 2010/11. Toronto withdrew its qualifying offer to Weems last week, making him an unrestricted free agent. Evans, who'll be 34 when the season starts, spent last season with the Wizards, putting up 4.9 PPG, 1.0 RPG and 0.4 APG in just 14.3 minutes a night.

Evans seems the more likely bet to settle for the minimum salary, as Zwerling notes. A twist to the story is that Montgomery is also the agent for Jeremy Lin, whose offer sheet the Knicks declined to match this week.

E’Twaun Moore Headed To Bulls?

July 20th, 2012 at 5:35pm CST by Chuck Myron

E'Twaun Moore was just traded to the Rockets in the three-team Courtney Lee deal, but by all accounts Houston is likely to waive the 6'4" guard soon. According to Mike Petraglia of WEEI.com, Moore already has a new team lined up, saying he expects to wind up with the Bulls.

Moore would have to clear waivers before signing with the team of his choice, so it's unclear whether Chicago is simply his preference or if the Bulls have given him indication they'll claim him off waivers. He has a non-guaranteed deal for the minimum salary for next season that becomes guaranteed if he's not waived by the end of summer league this weekend.

Moore, the 55th overall pick in the 2011 draft, averaged 2.9 points and made 37.8% of his three-point attempts in 38 games for the Celtics last season.

Bulls Sign Vladimir Radmanovic

July 19th, 2012 at 3:25pm CST by Zachary Links

THURSDAY, 3:25pm: The Bulls formally announced the signing today in a press release.

WEDNESDAY, 10:24pm: The Bulls have signed Vladimir Radmanovic to a one-year deal, the forward confirmed to David Kaplan of CSNChicago.com. Radmanovic says that the deal will be announced by the club tomorrow.

Radmanovic, 31, averaged 4.5 points and 2.9 rebounds per game in 49 games for the Hawks in 2011/12. For his career, the veteran has averaged 8.2 PPG and 3.9 RPG while shooting 38% from beyond the arc.