When Bryson Graham arrived in Chicago earlier this summer, he walked into a rare setup for a new front office boss: a clean slate. Most executives inherit a mess. Graham inherited flexibility, and from the start it looked like he could steer the Bulls in almost any direction he wanted.
That freedom, though, may not be as useful as it first seemed.
Graham has already signaled that this is likely to be a multi-year project. He said as much in words, and he’s backed it up with his roster moves.
The signings of Norman Powell and Zach Collins to two-year contracts with a team option fit the approach: keep the books clean, keep the future open, let the younger players grow. That is rebuilding, even if it hasn’t always been labeled that way in Chicago.
He has also made clear that he would be willing to use the Bulls’ cap space to absorb bad contracts if it meant bringing back future assets. For a team trying to build from scratch, that’s usually one of the easiest ways to stockpile picks or young players. And for much of the offseason, it seemed like a move the Bulls would surely make.
But the market hasn’t cooperated.
With training camp now just a little more than a month away, Graham still hasn’t used Chicago’s financial flexibility to take on extra money. The one move that comes closest was the Nic Claxton acquisition in the three-team deal with Brooklyn, but that was simply a cap-space absorption. The Bulls got Claxton and nothing else - no picks, no additional players.
That’s the part that matters. In a league shaped by the tax aprons and changing incentives, teams don’t seem nearly as eager to dump money the way they once did.
The new lottery system has also changed the calculation. Adam Silver’s flattened odds have made picks harder to value, especially for teams hovering around the middle.
The bottom three teams now have worse odds than clubs finishing 4-10, while the No. 9 and No. 10 Play-In teams get the same odds as the worst three teams.
The No. 7 and No. 8 Play-In teams get one lottery ball.
That matters because a future first-rounder just doesn’t look quite as shiny as it used to. A team hit by injuries or a bad season can still feel like it has a decent path to moving up, even if it ends up in the Play-In mix. In earlier years, those same picks could have carried much weaker lottery odds, which made them feel more valuable to the teams trading them away.
There’s also the possibility that the pool of bad contracts is shrinking. Teams are getting sharper with deal structure because of the first and second apron restrictions. The big spenders are still the big spenders, but the kind of middling multiyear money that used to clog up the league may be getting harder to find.
So far this offseason, that’s showing up in the trade market. Very few players have changed teams strictly for financial reasons, and almost nobody has been moved with first-round draft capital attached. That’s not the kind of environment a rebuilding front office loves.
None of this means Graham’s plan is dead. The Bulls could still find a deal before the season ends, and Denver has already been mentioned as a possible match.
A midseason move is also still on the table. But if this offseason has revealed anything, it’s that the old opportunities for teams like Chicago may not be there nearly as often.
That forces the Bulls to get creative. Maybe they can build enough value in Norman Powell to flip him later.
Maybe Nic Claxton becomes part of the puzzle in a different deal. Maybe Chicago can bundle second-round picks to land a younger player, perhaps a restricted free agent.
However it happens, Graham was hired to adapt faster and better than the previous regime. Now he has to do it in a market that may be a lot less generous to a team trying to rebuild.
In Other News...
Bulls Rebuild Is Already Fueling A Frustrating Contract Debate
As the Bulls keep sorting through their rebuild, the front offices contract picture has become part of the bigger conversation around how quickly this roster can be reshaped. In a salary-cap league, every deal carries added weight, and Chicagos current evaluation has naturally turned toward which players are giving real value and which ones are tying up flexibility the team may want to use elsewhere.
Patrick Williams stands out on the expensive side of that ledger, with a sizable contract and limited playing time making his deal hard to overlook. On the other end, Tre Jones has emerged as one of the more appealing bargains on the roster, producing efficiently while earning far less than his impact might suggest, and that contrast says plenty about the kind of decisions Chicago will keep facing as the rebuild moves forward. [Read more 🡒]
Bulls Should Watch Denver Closely After This Peyton Watson Trade
The ripple effects from Denvers reported multi-team deal could matter well beyond the Nuggets immediate roster shuffle. Peyton Watson is expected to head to Cleveland on a new four-year, $88 million contract, while the framework also sends Max Strus to the Clippers, draft picks back to Denver, and Tre Mann along with additional picks to Washington in the Cam Whitmore swap, with Julian Reese going from the Wizards to the Nuggets.
For teams watching the Western Conference market, the bigger question is what Denver does next after adding more draft capital and reshaping the books around a pricey new commitment. Any move at that level tends to trigger a second wave of roster maneuvering, and Chicago has reason to keep an eye on how aggressively the Nuggets respond as the rest of the transaction settles in. [Read more 🡒]
Matas Buzelis Sounds Ready For Any Spotlight The Bulls Throw At Him
Matas Buzelis is already talking like someone who expects to grow up with the Bulls, not just pass through them. The young forward said he wants to stay in Chicago for his whole career, and he also pointed to Kevin Durant as a source of confidence as he continues finding his footing in the league. For a player still early in his NBA story, that kind of mindset matters almost as much as the box score.
He also showed he is not backing away from the spotlight that comes with being outspoken. Buzelis revisited a March game against Luka Doncic, when a back-and-forth with the Dallas star helped turn the night into a showcase for Doncic, who erupted for 51 points. Even after that lesson, Buzelis made it clear he plans to keep testing Doncic the next time their paths cross, which should make their next matchup worth keeping an eye on. [Read more 🡒]