The Chicago Bulls officially switches to offseason mode after losing to the Boston Celtics in 6 games of their best-of-seven first round series. The Bulls are projected to have $14.8 million in cap space this summer, but their flexibility heavily depends on Dwyane Wade's decision on his second-year option.
According to Dan Favale of Bleacher Report, the Bulls could be in contention for a max player and another decent player, if Wade decides to leave $23.8 million on the table. The veteran All-Star averaged at least 18 points, but it's obvious that the Bulls want their young players to step up next.
"Dwyane Wade's player option is the first leap of faith. It'll take him two, maybe three, years to recoup the $23.8 million he's owed next season, so the assumption should be he opts in. But if the Bulls make it clear they're angling for a teardown, Wade has earned enough money to chase rings in Cleveland elsewhere at a discount-much to the benefit of Chicago's cap room, which blows past $40 million without him," Favale stated.
The Bulls are also dealing with Rajon Rondo's contract situation. Rondo averaged 12 points, 8.0 assists and 6.2 rebounds in the final 13 games of the regular-season and put up strong numbers (11.5 ppg, 10.0 rpg, 8.5 apg and 3.5 spg) in the Bulls' two postseason wins over Boston. However, a fractured thumb sidelined him for the remainder of the series, a development that ultimately turned the complexion of the first-round matchup.
Bleacher Report's Adam Fromal believes the Bulls will benefit a lot from letting Rondo test the market instead than keeping him around (guaranteeing $14M in salary for next season). Moreover, should Wade decide to leave the Bulls after one season, Gar Forman and John Paxon will suddenly have the buying power to attract shooters like Patty Mills, J.J Reddick and CJ Miles.