The question hanging over training camp isn't whether the Bulls are rebuilding — they answered that at last season's deadline. It's whether Josh Giddey, Matas Buzelis and Nic Claxton are the players Chicago builds around, or the next names in a trade package.
Seven trades, one signal. At last season's deadline the Bulls moved out Nikola Vucevic, Coby White, Ayo Dosunmu, Julian Phillips, Dalen Terry, Kevin Huerter and Emanuel Miller in seven separate deals. Everyone the front office chose not to trade — Giddey, Buzelis, Claxton, Powell, Williams — is still on the roster. That's not indecision. That's a list.
The best lineup doesn't exist. Last season's top five-man group by net rating was Vucevic, Huerter, Isaac Okoro, Giddey and Buzelis: 13 games, plus-4.2 net, a 106.3 offense against a 102.1 defense. Two of those five are gone. Whatever Chicago builds next has to be built without the group that actually worked.
The record says rebuild. Chicago finished 31-51 last season, 23rd of 30 in net rating at minus-5.3, with an offense that ranked 25th and a defense that ranked 22nd. That's the case for trading anyone not nailed down: nothing about last season's results argues for patience.
The picks say otherwise. The Bulls own their first-round pick outright in 2027, 2028, 2029 and 2030, with no cap urgency at $161.5 million against a $165.0 million cap. A front office with that much runway doesn't need to sell low on Giddey, Buzelis or Claxton just to escape a bad season.
New voices, same names. Bryson Graham took over basketball operations in May and hired Tiago Splitter in June. Taj Gibson retired as a player on September 14 and joined Splitter's staff the same day. New people are running this team, and none of them have moved Giddey, Buzelis or Claxton.
The individual case. Giddey averaged 17.0 points, 8.3 rebounds and 9.1 assists last season. Powell scored 21.7 a night. Buzelis put up 16.3 points on 34.9 percent shooting from three at age 21. Claxton added 11.7 points and 6.9 rebounds. That's a starting five with real production, not just potential.
Where this lands. Chicago already made its cut at the deadline. Keeping Giddey, Buzelis and Claxton through an offseason with no trades and no urgency is itself the answer: this is the core Splitter gets to develop, not shop, until camp and the games prove otherwise.
Are the Bulls rebuilding or trying to win now?
Rebuilding. They finished 31-51 last season and traded seven veterans at the deadline, keeping the roster's youngest, cheapest talent instead.
Will the Bulls trade Josh Giddey or Matas Buzelis?
Nothing points that way now. The front office kept both through an offseason with no trade urgency and $161.5 million in payroll against a $165.0 million cap.
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