The Bulls plan to waive shooting guard Rip Hamilton rather than guarantee his $5 million salary next season, according to Ken Berger of CBS Sports.com.
Hamilton's history of injuries, his age (35) and the final year of his contract made him expendable for the Bulls.
The three-time All-Star, who helped the Pistons win the 2004 NBA Finals, was acquired by the Bulls in 2011 to take some of the scoring load off Derrick Rose.
Hamilton's game declined last season when he averaged 9.8 points as a backup in 50 games. After falling out of coach Tom Thibodeau's rotation early in the 2013 postseason, Hamilton went out with a flourish, scoring 11 points in Game 4 and 15 points in Game 5 of the Eastern Conference semifinal series loss to the Heat.