Jul 24, 2012, 8:29 AM EST
This was expected, we were just waiting for it to become official.
It will on Tuesday — the Bulls will not match the three-year, $25.1 million offer sheet the Rockets gave center Omer Asik, reports K.C. Johnson at the Chicago Tribune. Asik will become a Rocket on the exact same deal that make Jeremy Lin a Rocket.
This clears the way for the Bulls to sign Kirk Hinrich and make other promised moves.
The Tribune reported on July 8 that Hinrich verbally agreed to a two-year deal, but it’s closer to $8 million in value, sources said…. The Bulls will add another shooting guard as well, with the imminent signing of Marco Belinelli for the biannual exception of $1.9 million.
We have noted that the Bulls have made moves like these that kind of tread water right now on the court but will all expire in the summer of 2014 (along with the deals of Luol Deng) and once you amnesty Carlos Boozer suddenly the Bulls have the money to go after a max-deal player to pair with Derrick Rose.
Ironically, while not really getting better this year on the court the Bulls will pay the luxury tax for the first time in franchise history. But just a few million, by using part of the mid-level exception on Hinrich and the biannual on Belinelli to go over the luxury tax threshold ($70 million) the Bulls put a hard cap on themselves of $74.3 million. They cannot exceed that. So they couldn’t bring back Asik.
He’s now a Rocket. And with their new deals Asik and Lin will now make close to $30 million combined in the 2014-15 season. That should be fun for Houston to find a way out of.
- Five Things We Learned in NBA Sunday: James Harden, LeBron James want your MVP vote 0
- Report: Sixers agree to buyout with JaVale McGee; he can sign with contender 3
- Report: Sixers engaged in buyout talks with JaVale McGee 17
- Bulls’ Jimmy Butler leaves with elbow injury, does not return (VIDEO) 0
- Adam Silver says data may prove Gregg Popovich right in terms of resting multiple players 8
- Rockets general manager Daryl Morey proposes loosening NBA trade rules 6
- Derrick Rose starts rehab, in “good spirits” after knee surgery 11
- Russell Westbrook undergoes procedure to address cheek fracture, will be re-evaluated next week 6