Should They Have Done It? Bulls Sign Norman Powell and Erase Cap Space

The Chicago Bulls had one of the worst kept secrets in the NBA over the last week.

Multiple reports heavily connected the franchise to free agent guard Norman Powell. The former Miami Heat All-Star was searching for a new home following the Giannis Antetokounmpo trade, which all but ended the Heat's chance of meeting his asking price. Conversely, the Bulls had plenty of money sitting in their back pocket, as well as a painfully obvious hole at shooting guard.

In fact, it was so obvious that many questioned whether Powell's camp was simply using the Bulls as leverage. It wouldn't be the first time an agent tried to scare a win-now team by pointing toward cap space. Nevertheless, Bryson Graham's interest proved real, and the Bulls will now pair a veteran scorer with their deep group of young, developing wings.

Powell's contract is reportedly set at two years, $45.0 million, per ESPN's Shams Charania. However, K.C. Johnson of Chicago Sports Network was quick to note that the second season will be a team option.

This now marks the second deal the Bulls have signed this offseason that gives them the power in Year 2. The first came on Tuesday night, when they surprisingly inked Zach Collins to a two-year, $17.0 million extension.

The Powell signing – worth an estimated $22.5 million in 2026-27 – will now essentially wipe out the Bulls' remaining cap space. They are now left with the $9.4 million room option and one remaining roster spot.

Were Chicago Bulls Right to Ink Norman Powell?

Nov 5, 2025; Denver, Colorado, USA; Miami Heat guard Norman Powell (24) during the second quarter against the Denver Nuggets at Ball Arena. Mandatory Credit: Ron Chenoy-Imagn Images | IMAGN IMAGES via Reuters Connect

The Norman Powell signing will surely confuse some. Bryson Graham spoke repeatedly about being in a rebuilding phase and prioritizing the development of young talent. On the surface, signing a 33-year-old fresh off arguably the best season of his career doesn't coincide with that, especially at that sum.

The Bulls could have attempted to use their cap space for salary dump scenarios or for targeting castaway youngsters like Isaiah Stewart or Aaron Wiggins. Instead, they decided to use all of it to bring in multiple veteran contributors, including Claxon, Collins, and now Powell.

With that said, it's important to note that Chicago has maintained real flexibility with all three of these deals. And one has to imagine that is largely the thinking by the front office. The Bulls have maintained control of their future by getting both Powell and Collins to agree to a team option in Year 2.

In other words, Graham can open up meaningful spending power again as soon as next summer. Claxton will also head into the final year of his depreciating deal in 2027-28. Considering we got very used to the AKME regime forking over player options, this does represent a nice change of tone.

There is also something to be said about fielding a balanced roster, no matter the season-wide goal. You want young players to play the right way, and a veteran like Powell can help ensure that happens in more ways than one. The guard is a 12-year NBA veteran who just learned plenty about "Heat Culture.' He's long been a respected locker room figure and has seen first-hand what a winning team looks like.

On the court, he fills a massive roster hole at the two. He will offer All-Star-level scoring efficiency, which saw him average 21.7 points on 47.0 percent shooting from the field and 38.0 percent shooting from long range last season.

The long-range shooting, in particular, is going to be an essential skill for this specific Bulls team. Not only did they lack a true high-volume threat, but it will allow important spacing for youngsters like Caleb Wilson, Dailyn Swain, and Matas Buzelis. At the end of the day, you need an adult on the floor at times, and that's exactly who Powell can be.

Are there concerns about the backcourt defense? Absolutely. Powell may play hard, but he and Josh Giddey will be picked apart. Nic Claxton will have to take a step back toward being the elite rim protector he once was. Likewise, the Bulls will have to see some immediate flashes on that end from their rookies.

Regardless, the Powell signing shouldn't change the expectations for this season internally or externally. He is likely arriving in Chicago well aware of what his role will be, which is to help develop the Bulls' new talent and keep them out of the league's bottom three. Remember: The NBA officially made it a negative to finish as one of the worst three squads this offseason, stripping those teams of a lottery ball.

As long as everyone is on the same page about what this next season will hold, this is a deal you can talk yourself into. It's essentially a one-year contract. It's essentially very tradeable. And it will essentially help the Bulls' new young players.

Might there have been more exciting ways for the organization to use its cap space? Yes, but Bryson Graham has at least kept the door open for plenty more movement down the road.

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