RealGM Basketball Wiretap

03 July 2026

• Norman Powell, Bulls Agree To Two-Year, $45M Contract

  The Chicago Bulls and guard Norman Powell have agreed to a two-year, $45 million contract. This will use up most of Chicago's remaining cap space.

  Powell was a first-time All-Star for the Miami Heat last season. The 33-year-old shooting guard averaged 21.7 points, 3.5 rebounds, 2.5 assists and 1.1 steals per game. Powell shot 47% from the field, including 38% on three-pointers.

  Powell was traded to Miami ahead of last season from the LA Clippers. In addition to the Heat and Clippers, Powell has also played for the Toronto Raptors and Portland Trail Blazers in his 11-year NBA career.

• Bulls Waive Kam Jones

  The Chicago Bulls have waived guard Kam Jones. The Bulls will eat a guarantee of just more than $1 million in dead salary for Jones for the 2026-27 season.

  Chicago acquired Jones as part of a draft-day swap with the Indiana Pacers. The Bulls acquired cash and the right to swap two future second-round picks, while the Pacers landed the draft rights for Braden Smith.

• Zach Collins, Bulls Agree To Two-Year, $17M Deal

  Zach Collins and the Chicago Bulls have agreed to a two-year, $17 million contract. Collins is represented by Mark Bartelstein and Kieran Piller.

  Collins appeared in just 10 games last season due to a left wrist fracture and a sprained toe.

  Collins averaged 9.7 points, 5.6 rebounds and 1.5 assists in 18.4 minutes.

• Anfernee Simons Drawing Interest From Bulls, Celtics, Warriors

  Veteran guard Anfernee Simons is set to become a free agent for the first time in his career this offseason. After splitting last season between the Boston Celtics and Chicago Bulls, Simons is drawing a lot of interest as an unrestricted free agent.

  Both of Simons' clubs from last year have interest in bring him back. The Celtics and Bulls have need for additional shooting and scoring and could sign the veteran guard. Boston has the $15 million Non-Taxpayer Mid-Level Exception to offer, while Chicago holds full Bird rights for Simons.

  The Golden State Warriors have also shown interest in adding Simons to their bench mix. The Warriors are also expected to have the full $15 million Non-Taxpayer MLE to offer this summer.

• Bulls Linked With Norman Powell, Jonathan Kuminga

  The Chicago Bulls have been mentioned as a potential landing spot for free agent Norman Powell, sources told Marc Stein and Jake Fischer of The Stein Line.

  Powell would sign a short-term deal should he go to the Bulls.

  The Bulls are also expected to show interest in Jonathan Kuminga after the Hawks declined their team option on the forward on Monday.

  The Cavs are also interested in Kuminga.

  The Bulls could also re-sign Anfernee Simons, who is drawing interest from the Celtics and Warriors.

• Bulls Exercise $2.4M Team Option For Leonard Miller

  The Chicago Bulls have picked up their $2.4 million team option for Leonard Miller for the 2026-27 season. Miller's contract will now become briefly non-guaranteed before becoming fully guaranteed on June 30.

  Miller broke out after a midseason trade sent him to Chicago. In 27 games (12 starts) with the Bulls, the 6-foot-10 forward averaged 11.7 points and 5.8 rebounds in 23.1 minutes per game. Miller shot 55% from the floor, including 36% on 3.2 three-point attempts per game.

  The Bulls also picked up their $2.4 million team option for Mouhamadou Gueye. His contract is now non-guaranteed until the league-wide guarantee date on January 7. Gueye is reportedly being included in the agreed-to trade between the Bulls, Brooklyn Nets, Charlotte Hornets and Minnesota Timberwolves. Gueye is headed to Minnesota to satisfy touch rules as part of a multi-team trade.

• Wolves Discussed Josh Giddey Trade With Bulls

  The Minnesota Timberwolves held trade talks with the Chicago Bulls for Josh Giddey in their attempts to improve the point guard position before moving forward with their deal for LaMelo Ball.

  The Wolves wanted to alleviate the burden Anthony Edwards faces against opposing defenses by adding another playmaker.

  Minnesota also discussed a Jaylen Brown trade with the Boston Celtics. The Celtics were seeking a trade package back from the Wolves that was similar to what they sent to the Charlotte Hornets plus Rudy Gobert. While Brown is considered a better player than Ball, his fit wasn't as ideal.

  Giddey averaged 17.0 points, 8.3 rebounds and 9.1 assists in 32.1 minutes across 54 games last season for the Bulls.

  Giddey signed a four-year, $100 million contract with the Bulls during the 2025 offseason as a restricted free agent and has three seasons remaining on the deal.

• Tobe Awaka Agrees To Two-Way Deal With Bulls

  Tobe Awaka has agreed to sign a two-way contract with the Chicago Bulls after going undrafted out of Arizona.

  Awaka averaged 9.3 points and 9.1 rebounds in 20.8 minutes last season.

• Wolves Trade Julius Randle To Nets; Bulls Acquire Nic Claxton

  The Minnesota Timberwolves have traded Julius Randle to the Brooklyn Nets as part of a three-team trade with the Chicago Bulls. The Bulls will acquire Nic Claxton from the Nets as part of the deal.

  Minnesota will also send the No. 28 pick to the Nets while getting the No. 33 pick back in return.

  The Wolves re-signed Randle during the 2025 offseason on a three-year, $100 million contract as they prioritized retaining him over Nickeil Alexander-Walker. Minnesota is now unloading Randle as they look to re-sign Ayo Dosunmu and open up the use of their exceptions. The Wolves will also create a $33.3 million trade exception as part of the move.

  Randle appeared in 79 games last season, averaging 21.1 points, 6.7 rebounds and 5.0 assists in 33.0 minutes. Randle's 18.2 PER in the regular season dropped to 10.9 during the playoffs.

  Naz Reid will move into the starting power forward role with the decision to move on from Randle. Jaden McDaniels, meanwhile, will continue his emergence as a co-star for Anthony Edwards on offense.

  Claxton is on a $23.3 million contract for the 2026-27 season that the Bulls will use their cap space to take on. Claxton averaged 11.7 points, 6.9 rebounds, 3.7 assists and 1.1 blocks in 27.8 minutes over 69 games last season with the Nets.

• Wizards Giving 'Increased Consideration' To Drafting Darryn Peterson First Overall

  The Washington Wizards are said to be giving "increased consideration" to drafting Darryn Peterson with the first overall pick in the 2026 NBA Draft. It was recently reported that Peterson is working out only for the Wizards ahead of the draft.

  The choice at No. 1 seems to be down to the Kansas product Peterson and A.J. Dybantsa of BYU. Dybantsa had been the favorite for a while, but as the draft has drawn closer, Peterson's case as the first pick has picked up momentum.

  If the Wizards select Peterson, the Utah Jazz are expected to be more than happy to snag Dybantsa with the No. 2 pick. The Jazz have a great relationship with Dybantsa through owner Ryan Smith's connection to BYU.

  Despite speculation that Cameron Boozer could also be in line for the first overall pick, he seems more likely to land with the Memphis Grizzlies at No. 3. That would then put the Chicago Bulls in position to select Caleb Wilson with the fourth overall pick.