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Daequan Cook waived by Rockets, signed instantly by Bulls

Jan 4, 2013, 6:26 PM EDT

Daequan Cook, Patty Mills AP

The Rockets wanted to save some money and free up roster space. The Bulls still need more three-point shooting.

So Daequan Cook is changing teams.

The Rockets put Cook on waivers to dump a non-guaranteed contract but no team claimed him and at his $3.1 million salary. But he cleared waivers and within an hour his agent was telling Marc Stein of ESPN that Cook would sign with the Bulls. It didn’t take long.

Cook is a three point shooting specialist — more than half his attempts this season and 4 of his 5.2 shots per game last season in Oklahoma City were threes. He’s hitting 36.7 percent from beyond the arc this season, up from 34.6 percent last season but well off the 42.2 percent of a couple years ago.

Maybe with the Bulls, especially once Derrick Rose returns to drive and dish, Cook can find a place to thrive.

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