Although the Bulls ultimately decided not to move Richard Hamilton at the trade deadline, the team is expected to part ways with the veteran guard this summer, according to K.C. Johnson of the Chicago Tribune. Johnson writes that Hamilton will be bought out by the Bulls, though he still hopes to play at least two more seasons in the NBA.
Hamilton, 35, is under contract for one more season, but his salary for next season is only partially guaranteed. While the Bulls would have to pay $5MM to retain Hamilton for the season, they could save $4MM of that total by buying him out for $1MM. Per Mark Deeks of ShamSports.com, an official decision on Hamilton is due by July 10th, the day after this year's July Moratorium, so it appears likely we'll see him released by then.
Significant portions of Hamilton's last two seasons with the Bulls have been wiped out by injuries. When healthy, he has played the equivalent of about one full season, averaging 10.5 PPG in 78 contests (22.9 MPG). Assuming he's officially waived, he'll join a group of unrestricted free agent shooting guards that includes Manu Ginobili, J.J. Redick, Kevin Martin, Tony Allen, Nick Young, and Chicago teammate Marco Belinelli.