Chicago Bulls fans may not be feeling great about free agency, but the bigger picture is starting to come into focus. The new front office has not exactly delivered the kind of splashy, youth-driven offseason many expected after the draft, yet the moves Chicago has made suggest something more deliberate is going on.
That optimism got a boost when the Bulls came out of the first round of the NBA Draft looking like winners. They landed a new franchise cornerstone in Caleb Wilson and added a scout-favorite in Daily Swain. Then Bryson Grahm surprised people by selling both second-round picks, and Chicago kept its focus on veterans instead of stacking more young talent or future assets in the days that followed.
The headliners of that approach were Norman Powell and Zach Collins, with Collins re-signed after the Bulls also picked up Nic Claxton from the Brooklyn Nets in a three-team trade. Powell is 33, Collins is 28, and the latter played just 10 games the previous season. It was easy to see why the whole thing felt familiar to Bulls observers who watched the previous front office lean on win-now pieces instead of fully committing to a rebuild.
Grahm can make the case that veteran leadership matters for a young group. He can also point to the league’s new lottery reform and argue that being buried at the bottom no longer carries the same reward.
Those are real points. But the cleaner explanation might be that Chicago is not trying to finish the job right now.
That seems to be the entire point of this offseason. Graham has made it clear from the start that this is going to take time, and these moves fit that timeline even if they don’t feel thrilling in the moment. The Bulls are setting the table, not serving the whole meal.
There is still one roster spot left to fill, and Chicago currently sits at 14 guaranteed deals for 2026-27, so the offseason is not even complete yet. There are still names available, and the final addition will matter in how the Bulls’ summer is ultimately judged.
Even after that, the real story may be what happens later. Powell and Collins were both signed to two-year deals with team options for 2027-28, which gives Chicago flexibility and plenty of room to maneuver. Those are the kinds of contracts front offices hand out when they want options, not anchors.
That flexibility could become valuable fast. If either player produces over the first half of the season, the Bulls would have trade chips on hand. The Bruce Brown example shows how that kind of deal can be used: Indiana signed him to a two-year, $45.0 million contract after his title run with the Nuggets, then moved him months later in the package that brought back Pascal Siakam.
No, that doesn’t mean Powell or Collins is about to become a star trade piece. It does mean Chicago has created room to work. And that extends beyond those two veterans, because Isaac Okoro, Tre Jones, Jalen Smith, and Leonard Miller also give the Bulls expiring-contract flexibility this season.
That puts the franchise in a strong spot to have spending power again next offseason. Instead of locking itself into long-term commitments, the new regime is keeping the board open and giving itself time to sort out what actually fits.
The Bulls still deserve some criticism. Selling the second-round picks was a positive, but passing on young swings like Isaiah Joe or Isaiah Stewart could end up looking like a missed chance.
Even so, if the plan is patience and gradual roster building, Chicago is following it. The work may look drab now, but the room for bigger moves is there.
In Other News...
Bulls May Finally Have A Path To The Draft Haul Fans Want
The latest ripple from the East has the Bulls thinking a few moves ahead, even if the first domino belongs to Boston and Philadelphia. ESPNs Shams Charania reported the Celtics have agreed to send Jaylen Brown to the 76ers for Paul George and draft picks, a swap that only adds more uncertainty to a conference already reshaping itself around star contracts, future flexibility and the kind of draft capital that can change a franchises timeline in a hurry.
For Chicago, the intrigue is less about the deal itself and more about where it leaves the Bulls if the league keeps turning in that direction. The logic being floated has them eyeing a 2027 offseason window when Philadelphia could be staring at a harder set of choices, with the Bulls potentially able to assemble the kind of salary structure and trade assets that matter in a sweepstakes for a player of that size. It is still projection, not a roadmap, but it is the rare kind of speculation that gives Bulls fans a reason to look past the present and wonder whether the front office can finally get in front of the next big opportunity. [Read more 🡒]
Bulls Rebuild Already Feels Different Under Bryson Graham
The Bulls rebuild has started to look a little different under Bryson Graham, who has already pushed Chicago toward a longer view after moving off several tradeable pieces and turning the roster toward development. The front office has still made an effort to stay functional in the present, adding Nic Claxton and Norman Powell to give the team a sturdier baseline while it tries to build something that can last.
Chicagos draft haul added another layer to that plan, with Caleb Wilson and Dailyn Swain giving the organization two more young players to shape over time. The new lottery setup only sharpens the calculus from here, because the Bulls do not want to be stuck in the leagues worst tier, and the challenge now is balancing patience with enough competitiveness to keep the rebuild moving in the right direction. [Read more 🡒]