Max Cap Room
$26.1 million (not including their first round pick)
$8.8 million Room Mid-Level Exception

Potential Free Agents

• Lonzo Ball ($32.1 million cap hold, Full Bird Rights, Unrestricted)

• Josh Giddey ($25.1 million cap hold, $11.1 million Qualifying Offer, Full Bird Rights, Restricted)

• Jevon Carter ($6.8 million player option, Early Bird Rights, Unrestricted)

• Chris Duarte ($17.7 million cap hold, $8 million Qualifying Offer, Full Bird Rights, Restricted)

• Torrey Craig ($2.3 million cap hold, Early Bird Rights, Unrestricted)

• Talen Horton-Tucker ($2.3 million cap hold, Non-Bird Rights, Unrestricted)

Summary

The Bulls could have roughly $26 million in cap space (not including their first round pick), but retaining or re-signing any of their own potential free agents would cut into that. Most likely, if Giddey is re-signed, the Bulls will be operating over the cap.

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If Carter opts out,  the Bulls will have about $63 million below the luxury tax with 10 players under contract (not including their first round pick), which will likely be enough to re-sign their own key free agents while still having the $14.1 million Non-Taxpayer MLE and the $5.1 million Bi-Annual Exception to add talent, if they end up operating over the cap.

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Potential Free Agency Targets
Defense:

• Jae'Sean Tate

• Day'Ron Sharpe

• Nickeil Alexander-Walker

Shooting:

• Luke Kennard

• Malik Beasley

• Sam Merrill

Wing Depth:

• Kelly Oubre

• Quentin Grimes

• Gary Harris