The Chicago Bulls have moved into Phase II of their offseason with about $33.0 million in maximum spending power after taking Nic Claxton and his $23.3 million salary from the Brooklyn Nets in a three-team deal. They gave up nothing in return, a clean cap move that leaves Bryson Graham and Tiago Splitter with a rare amount of room to reshape the roster.
That is why Norman Powell is suddenly part of the conversation for readers tracking where this market can land next. The Bulls entered the offseason with more cap space than any other team, and they still have a room mid-level exception worth $9.4 million available, which means they are not limited to one route in free agency. They can chase a veteran on open-market money, target a player whose contract structure fits their cap, or use the space in a salary-dump trade if the right deal appears.
The number is not fixed, though. Cap Sheets puts the Bulls at roughly $33.0 million now, but that figure could slide closer to $31.0 million depending on what happens with Kam Jones, whose contract is set to become guaranteed this evening. That detail matters because every guaranteed dollar narrows the margin before moves begin at 5:00 p.m. CT on Tuesday, when free agency activity is set to start.
The friction is obvious. The Bulls have money, and they have options, but it is still hard to picture a new braintrust making a rush of major moves all at once. The franchise has embraced a full rebuild, and this stretch is supposed to be about development as much as it is about spending. Phase II begins with flexibility, not obligation, and that gives Graham and Splitter the power to be selective rather than reactive.
For now, the clearest conclusion is that the Bulls are in position to matter on Tuesday even if they do not choose to spend like a team trying to win the market. The cap space gives them a seat at the table. What they do with it will say far more about the rebuild than the number itself.
