2017 Offseason In Review: Chicago Bulls

Hoops Rumors is breaking down the 2017 offseason for all 30 NBA teams, revisiting the summer’s free agent signings, trades, draft picks, departures, and more. We’ll evaluate each team’s moves from the last several months and look ahead to what the 2017/18 season holds for all 30 franchises. Today, we’re focusing on the Chicago Bulls.

Signings:

• Cristiano Felicio: Four years, $32MM.
• Nikola Mirotic: Two years, $25MM. Second-year team option.
• Justin Holiday: Two years, $9MM.
• Antonio Blakeney: Two-way contract. Two years, $50K guaranteed for each season.
• Ryan Arcidiacono: Two-way contract. One year. $50K guaranteed.

Camp invitees:

• Diamond Stone: Two years, minimum salary. $50K guarantee. (Waived)
• Bronson Koenig: One year, minimum salary. Exhibits nine and 10. (Waived)
• Jaylen Johnson: One year, minimum salary. Summer contract. (Waived)
• Jarell Eddie: One year, minimum salary. Summer contract. (Waived)

Waiver claims:

• Claimed David Nwaba off waivers from the Lakers.
• Claimed Kay Felder off waivers from the Cavaliers.

Trades:

• Acquired Zach LaVine, Kris Dunn, and the draft rights to Lauri Markkanen (No. 7 pick) from the Timberwolves in exchange for Jimmy Butler and the draft rights to Justin Patton (No. 16 pick).
• Acquired cash ($3.5MM) from the Warriors in exchange for the draft rights to Jordan Bell (No. 38 pick).
• Acquired Quincy Pondexter, the Pelicans’ 2018 second-round pick, and cash ($2.5MM) from the Pelicans in exchange for the draft rights to Ater Majok.

Draft picks:

• 1-7: Lauri Markkanen — Signed to rookie contract.

Departing players:

• Jimmy Butler
• Isaiah Canaan (waived)
• Michael Carter-Williams
• Joffrey Lauvergne
• Anthony Morrow
• Rajon Rondo (waived)
• Dwyane Wade (bought out)

Other offseason news:

• Hired Doug Collins as senior advisor of basketball operations.
• As a result of a punch thrown by Bobby Portis, Nikola Mirotic expected to be out until late November with facial injuries; Portis suspended for eight games.
• Cameron Payne out until at least December with a foot injury.

Salary cap situation:

• Operating over the cap, but can create more than $17MM in cap room if necessary. Carrying approximately $81.4MM in guaranteed team salary. Portion of mid-level exception ($3.79MM) and full bi-annual exception ($3.29MM) still available.

Check out the Chicago Bulls’ full roster and depth chart at RosterResource.com.

Story of the summer:

With mounting pressure to commit to an inevitable rebuild, the Bulls finally opted to ship lone star Jimmy Butler westward for a handful of intriguing young building blocks.

To say that Chicago fans have grown skeptical that Gar Forman and John Paxson are the men to lead them into the next great era of Bulls basketball is an understatement. Nevertheless, the executive team has accepted the ambitious task and attempted to make the most of a less-than-stellar chapter in franchise history.

While the Bulls may be a way off from their next postseason appearance, we can give the organization credit for hopping off the treadmill of mediocrity. Baby steps, people.

Key offseason losses:

The Bulls managed to break the 40-win mark in each of the past two seasons largely because they’ve had Butler on board to keep the team relevant in the Post-Healthy-Derrick-Rose Era. This season, however, the All-NBA forward will ply his trade for former coach Tom Thibodeau in Minneapolis. The team will miss Butler’s ability to shoulder the offensive load, among other things, but fans should be reasonably pleased with the haul he yielded.

Besides Butler, a pair of former All-Star guards made their exit from Chicago this summer — Dwyane Wade received a late offeseason buyout, while Rajon Rondo was waived before his full 2017/18 guarantee kicked in. While Wade and Rondo were valued pieces that nearly helped the Bulls upset the Celtics in the first round of the playoffs last spring, they’re 35 and 31 years old, respectively, and weren’t going to be part of the all-out rebuild unfolding at the United Center.

The Bulls also said farewell to backup guard Michael Carter-Williams this summer, and while he didn’t play much of a role in his only season with the squad, he could have been an intriguing piece for the team if given more of an opportunity. That opportunity could have come this season considering that Wade and Rondo are gone, but the 26-year-old former Rookie of the Year will play for the Hornets instead.

Key offseason additions:

While he’ll need to prove that he can bounce back from the torn ACL he suffered last season, Zach LaVine represents Chicago’s closest thing to a star. LaVine averaged 18.9 points per game for the Timberwolves last season, despite competing with two franchise cornerstones for touches. The 22-year-old will have plenty of chances to reach his ceiling when he finally sets foot on the court in a Bulls jersey.

The shine on Kris Dunn has dulled since he was drafted fifth overall in the 2016 NBA Draft, but the young guard – who drew significant trade interest on draft night a year ago – still has tantalizing potential. Although we saw first hand that Dunn may not be ready to guide a team as its starting point guard just yet, his development will be among his new organization’s chief priorities in 2017/18.

There’s no consensus on what to expect out of Lauri Markkanen in his rookie season, but the forward out of Arizona could step into a significant role out of the gates. Markkanen lands in a unique situation this year with room to develop, though he’ll have to share the spotlight with several promising young teammates.

The Bulls managed to lure journeyman Justin Holiday back to the organization and the 28-year-old wasted no time stepping up as a leader of the youthful roster. Holiday’s career mark of 5.7 points per game leaves much to be desired, but the new-look Bulls core will benefit from his presence in the locker room.

Outlook for 2017/18:

While Chicago’s return in the Butler deal was widely panned, it stacks up well to the packages included in the offseason’s other blockbuster trades. Even if the Bulls didn’t net any sure-fire studs, the fact that they landed three potentially substantial building blocks in a summer when Paul George, Kyrie Irving and Carmelo Anthony were traded for pennies on the dollar should be celebrated.

Things will get a lot uglier before they get better in Chicago, something made abundantly clear when Bobby Portis and Nikola Mirotic threw down in a practice prior to the team’s season opener. But at least the front office, for better or worse, finally committed to a rebuild.

Don’t expect many wins out of the team in 2017/18, but rather a genuine commitment to developing their young core. If the front office shows any signs of mishandling that process, then don’t rule out another Fire GarPax billboard before the season’s out.

Salary information from Basketball Insiders used in the creation of this post. Photos courtesy of USA Today Sports Images. Luke Adams contributed to this post.