Max Cap Room
$37.4 million
$8.1 million Room Mid-Level Exception

Potential Free Agents

• DeMar Derozan ($33 million cap hold, Full Bird Rights, Unrestricted)

• Lonzo Ball ($21.4 million player option, Full Bird Rights, Unrestricted)

• Patrick Williams ($29.5 million cap hold, Full Bird Rights, Restricted)

• Alex Caruso ($9.9 million salary only $3 million guaranteed)

• Andre Drummond ($4.4 million cap hold, Early Bird Rights, Unrestricted)

• Torrey Craig ($2.8 million player option, Non-Bird Rights, Unrestricted)

• Javonte Green ($21 million cap hold, Non-Bird Rights, Unrestricted)

• Onurlap Bitim ($1.9 million non-guaranteed salary)

Summary

Barring any major trades, the Bulls are unlikely to have a meaningful amount of cap space. Even if they lose DeMar Derozan and Patrick Williams, assuming Lonzo Ball exercises his player option for '24-'25 and Alex Caruso is not waived, which both seem virtually certain at this point, they will operate over the cap. However, it's possible they could get a career-ending injury exclusion for Ball and get his salary removed from their cap.

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If Craig opts out and Bitim is waived, the Bulls will have about $39 million in space below the luxury tax with only 10 players under contract. Re-signing Derozan and Williams would likely push them close enough to the first apron so that they wouldn't even use their full $12.9 MLE or $4.7 million Bi-Annual Exception to add talent, especially if they want to avoid the tax.
 

Potential Free Agency Targets
Wing Depth:

• Gordon Hayward

• Kyle Anderson

• Isaac Okoro

Shooting:

• Malik Monk

• Cedi Osman

• Joe Ingles

Guard Depth:

• Monte Morris

• Talen Horton-Tucker

• Spencer Dinwiddie