At Least the Chicago Bulls' Offseason Options are Wide Open

Watching the current version of the Chicago Bulls might feel like homework, but doesn't that mean it could pay off?

Yes, there is a chance this proves to be the pointless kind of homework, like writing down a quiche recipe for home economics. But who's to say it doesn't end up more like a history paper or multiplication table? We have plenty of reason to believe there may be real long-term value in what the Bulls have done mid-season, and our first sign of that could be only a few months away.

The Bulls were always well-positioned to have significant spending power come the 2026 offseason. However, the fact that they made as many moves as they did and maintained that flexibility is noteworthy, particularly when looking at the rest of the league. A couple of other teams that were in line to have major money in their pocket cashed in sooner than later. As The Stein Line recently reminded us, the Wizards and Jazz are both off the table as real spending threats.

The Wizards decided to use their financial flexibility to add Trae Young and Anthony Davis as they gear up for a playoff run next season. Meanwhile, the Jazz surprisingly went after former Defensive Player of the Year Jaren Jackson Jr., adding him alongside the handsomely paid Lauri Markkanen. This leaves the Bulls, Nets, Lakers, and Clippers as the primary teams to watch for big gambles this summer.

For what it's worth, the Bulls are currently in line to have just under $70.0 million in cap space to play with, per Spotrac. They have only eight players who are owed guaranteed money for next season.

Arturas Karnisovas of the Chicago Bulls — Sep 30, 2024; Chicago, Il, USA; Chicago Bulls vice president of basketball operations Arturas Karnisovas speaks during Chicago Bulls Media Day. Mandatory Credit: Kamil Krzaczynski-Imagn Images | Kamil Krzaczynski-Imagn Images

Now, it's worth considering how little free agency matters in this day and age. Acting as a cap space team doesn't have nearly the perks it once did. However, it can still very much matter when you want to go after restricted free agents, and this year's class has quite a few intriguing players.

We will go over them in more detail as the offseason nears, but the list of RFAs includes Jalen Duren, Bennedict Mathurin, Walker Kessler, Peyton Watson, Tari Eason, and Mark Williams. For a Bulls team that has recently taken a step back and is trying to build around a younger core, this is a fascinating pool to swim in. And this feels only more like the case when we consider Chicago's obvious need for rim protection and defense. Essentially, each one of those players would be an upgrade on that side of the ball.

To be sure, securing an RFA is never easy, but the Bulls will at least go into this summer knowing they have slightly less competition with the Jazz and Wizards recently taking on big money. With both out of the mix, they can also now emerge as the salary-dump favorites if locking in an RFA doesn't pan out.

The Jazz and Wizards were among the most popular dumping grounds over the last handful of years, gobbling up young talent and draft picks in the process. While the Bulls have always been averse to taking on salary that stretches past a one-year commitment, it may prove to be the best way to make use of all their money. Win-now teams are almost looking for a way to move contracts, and if this deadline told us anything, it's that this front office may finally be ready to lend a helping hand.

Speaking of possible trades, this continues to be the best way to add top talent. It was discussed countless times around the deadline, but the Bulls are in a better position than most to swing for the fences. Not only do they have all of this money to spend, but they also have a full arsenal of draft picks. In addition to all of their own future first-round picks, they hold a lottery-protected Portland Trail Blazers pick that could convey this summer. They have also bumped their stock of second-rounders to 13.

Should the expectation be that the Bulls go big game hunting in the coming months? Probably not, though this is a front office that has long refused to exit the competitive mix. They may have gone in that direction at this season's deadline, but can they really stomach that for an entire season? If one thing is for sure, the NBA's anti-tanking rules could make it even more difficult to commit.

At the end of the day, all that does matter right now is that the Bulls are heading into an offseason with many options at their disposal. While few fans likely trust this front office to make the most of those options, having the opportunity to create some noise is almost always better than the alternative.