Could the Bulls Grab a Top RFA in One Last Major Offseason Move?

When you reach this point in the NBA offseason, it's hard not to let your mind wander.

What if Caleb Wilson wins Rookie of the Year? Isn't the Bulls' win total projection a tad low? Is it already time to g ive up on Noa Essengue? Should Tiago Splitter become a player-coach and add some needed size in the frontcourt?

Fine, I haven't actually pondered the last one (... until now). But there genuinely is a lot to think about with this new-look Bulls team. They are very much starting from the ground up and have given themselves an excitingly clean slate to work with. The few moves that Graham made this offseason are only the beginning, as he made sure to maintain loads of future flexibility with modest additions like Norman Powell and Nic Claxton.

The most likely outcome is that he begins to put this flexibility to use at the February trade deadline or next offseason. He's been clear about taking things slow and focusing on the development of young talent currently on the roster. At the same time, the benefit to having such flexibility is that you can strike at almost any time. And who's to say he wouldn't reconsider ending his first offseason with a bang?

The Bulls still have one full-time roster spot open at their disposal and sit well below the luxury tax threshold. There may not be many attractive unrestricted free agents left on the board, but we can't say the same about the restricted market!

Should the Bulls Make A Run at a Top RFA?

Apr 5, 2026; Sacramento, California, USA; LA Clippers guard Bennedict Mathurin (9) during the third quarter against the Sacramento Kings at Golden 1 Center. Mandatory Credit: Darren Yamashita-Imagn Images | IMAGN IMAGES via Reuters Connect

Restricted free agency can be an ugly game, and this is proving to be the case again this offseason.

Several well-regarded youngsters remain in limbo as their organizations attempt to squeeze them in contract negotiations. Jalen Duren is arguably the highest-profile name after making an All-NBA Team with Detroit last season. However, essentially all signs point to him finding his way back to the Pistons, even if it isn't for a while.

The same can't be said about Denver's Peyton Watson. The further we have gone into the summer, the more likely it has felt that the Nuggets could attempt to find a sign-and-trade for the wing. They find themselves in a financial bind, and Watson reportedly rebuffed their five-year, $70.0 million offer, per The Athletic.

Indeed, this led Shams Charania to report on Tuesday that the Nuggets have lowered their previously high asking price for Watson in a deal. They are now willing to shake hands in exchange for a first-round pick and "a really good, high-level player." What the latter means is up for debate, but it's presumably a quality role player on a solid contract.

Several teams have reportedly had their eye on the Watson situation, and the Chicago Bulls have yet to be named as one of those teams. However, the longer this drags out, the more time there is for Graham to get ideas!

Not only does the 23-year-old Watson fit the organization's current timeline, but he sure seems to fit what this new-look front office values. He is a very long and athletic swingman who is great in transition and has significantly improved as a perimeter threat. Watson shot a career-high 41.1 percent from long range last season. The Nuggets also saw him blossom as a finisher, looking far more comfortable attacking off the bounce.

Shams: Nuggets are now looking for a "really good high-level player, as well as a first-round pick" in a potential Peyton Watson sign-and-trade.

Denver initially set a price of two first-round picks and two pick swaps in any deal.pic.twitter.com/jdtVy1s5jw
— Underdog NBA (@UnderdogNBA) July 28, 2026

More importantly, Watson's defense has the potential to be top-tier. It's why the Nuggets still played him so much early on in his career despite some struggles offensively. He can switch onto multiple positions thanks to his size and lateral quickness. For a Bulls team trying to establish a more defensive-minded identity under Tiago Splitter, Watson could make a ton of sense with this nucleus. In many ways, Watson feels like who the Bulls hope that Dailyn Swain could be down the road.

Now, is it worth giving up a first-round pick to potentially bring him in? It's a big ask this early on in the rebuilding process, but let's not forget the Bulls do have all their future first-rounders at their disposal. It wouldn't be that big of a risk, assuming Watson does live up to the contract he signs.

The other name still up for grabs is the Clippers' Bennedict Mathurin. The Stein Line recently reported that the New Orleans Pelicans have been monitoring his situation in hopes of potentially pulling off a sign-and-trade deal, as well as an undisclosed second team.

Mathurin feels like he would fill another fascinating hole for the Bulls' long-term. The organization currently has no clear future option at shooting guard, with Norman Powell essentially brought in as a rental. While it's still unclear if Mathurin can be that guy, the flashes have been very fun at times.

He averaged 17.6 points a night with the Pacers and Clippers last season to go along with 5.4 rebounds and 2.4 assists. The efficiency is still a work in progress, but there is absolutely no denying his toughness and physicality. For instance, Mathurin has seen his free throw attempts go up each season, averaging 6.2 over his 54 games in 2025-26.

Admittedly, his tendency to attack the rim first could be a clunky fit with the Bulls' young wings. But Mathurin plays with a chip on his shoulder and would bring a more proven scoring punch to this young team. He also has plenty of experience coming in off the bench, so Chicago could always plan to use him as a sparkplug sixth man from the jump.

It's easy to understand why the Bulls may not want to fork over too much cash to bring in someone so early in the rebuild. At the same time, both Watson and Mathurin have demonstrated early in their careers that they can impact winning in a real way. Sure, this might not be the Bulls' goal right now, but it will be eventually.

If the whole point is to be in asset accumulation mode and add as much talent as possible, this RFA market is something the Bulls should at least have another meeting about. Pulling the trigger should still depend on the price tag and trade return, but the whole point is that both those things may start to look more reasonable as this summer drags on.

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