2017 Offseason Salary Cap Digest: Chicago Bulls

The Bulls’ approach to the 2016 offseason was a vexing one, as they stocked up on veteran perimeter players with poor outside shots. Chicago’s questionable roster moves continued into the regular season, when the team sent a pair of rotation players to Oklahoma City in exchange for a point guard (Cameron Payne) who barely got off the bench in the playoffs. With the futures of Dwyane Wade, Rajon Rondo, and even trade candidate Jimmy Butler up in the air heading into the summer, it will be interesting to see whether the Bulls double down on their current core or head in a new direction.

Here’s where things currently stand for the Bulls financially, as we continue our Offseason Salary Cap Digest series for 2017:

Guaranteed Salary

• Jimmy Butler ($18,696,918)
• Robin Lopez ($13,788,500)
• Rajon Rondo ($3,000,000) — Partial guarantee. Non-guaranteed portion noted below.¹
• Cameron Payne ($2,203,440)
• Denzel Valentine ($2,186,400)
• Jerian Grant ($1,713,840)
• Bobby Portis ($1,516,320)
• Paul Zipser ($1,312,611)
• Isaiah Canaan ($200,000) — Partial guarantee. Non-guaranteed portion noted below.²
• Total: $44,618,029

Player Options

• Dwyane Wade ($23,800,000)
• Total: $23,800,000

Team Options

• None

Non-Guaranteed Salary

• Rajon Rondo ($10,397,000) — Partial guarantee. Guaranteed portion noted above.¹
• Isaiah Canaan ($1,377,230) — Partial guarantee. Guaranteed portion noted above.²
• Total: $11,774,230
  

Restricted Free Agents

• Nikola Mirotic ($7,228,063 qualifying offer / $10,986,655 cap hold)
• Michael Carter-Williams ($4,187,598 qualifying offer / $7,958,815 cap hold)
• Joffrey Lauvergne ($2,137,149 qualifying offer / $3,248,466 cap hold)
• Cristiano Felicio ($1,671,382 qualifying offer / $1,671,382 cap hold)
• Total: $23,865,318

Cap Holds

• Dwyane Wade ($27,840,000) — If player option is declined
• Anthony Morrow ($6,627,200)
• No. 16 overall pick ($2,247,480)
• Total: $36,714,680

Trade Exceptions

• Taj Gibson TPE ($5,462,000) — Expires 2/23/18

Projected Salary Cap: $101,000,000

Maximum Cap Room: $50,872,031

• With only two sizable guaranteed contracts on their books for next season, the Bulls could clear a significant chunk of cap room. However, it would require waiving Rondo and Canaan, not to mention renouncing all their exceptions and free agents, including Wade (assuming he turns down his player option). In that scenario, the Bulls’ remaining guaranteed salary, the cap hold for their first-round pick, and a few cap charges for empty roster spots would total $50,127,969. However, I’d expect the Bulls to hang onto Rondo and attempt to re-sign at least a couple of their restricted free agents, which will limit their cap flexibility. Wade opting in would also reduce their cap room significantly.

Footnotes:

1. Rondo’s salary becomes fully guaranteed after June 30.
2. Canaan’s salary becomes fully guaranteed after June 30.

Salary information from Basketball Insiders and The Vertical was used in the creation of this post.