Rebuild or Retool: What Is Chicago Actually Building?

By the Bulls Nightly Desk · Wednesday, September 23

Chicago dealt away its playoff-caliber core at last year's deadline for youth and eight second-round picks, then used this offseason to sign a 33-year-old wing and trade for a 27-year-old center. Those two moves don't point the same direction, and camp is where Chicago finds out which one wins.

Bulls Nightly artwork — Illustration by Hoops Nightly.

The Teardown. At last season's deadline, Chicago sent out Nikola Vucevic, Coby White, Ayo Dosunmu, Julian Phillips, Dalen Terry, Kevin Huerter and Emanuel Miller. Back came Jaden Ivey, Collin Sexton, Leonard Miller, Guerschon Yabusele, Nick Richards, Anfernee Simons, Rob Dillingham and eight second-round picks. Ivey was later waived.

Two Vets Arrive. This offseason, Graham's staff signed Norman Powell, 33, in free agency and traded for Nic Claxton, 27, from Brooklyn. Powell carries a 21.5 million dollar cap hit, Claxton 23.1 million, real money spent on players with no place in a youth timeline.

Cap Math. Chicago's payroll sits at 161.5 million dollars, under the 165.0 million dollar cap and well below the 200.4 million dollar luxury-tax line. That gap says a rebuild is still in progress; the veteran additions say someone in the building wants to win sooner.

Picks Still Protected. Chicago holds its own first-round pick every year through 2030 and only owes Oklahoma City a 2027 second-rounder. A team chasing wins now does not usually protect that much draft equity.

New Voices, New Bench. Tiago Splitter replaces Billy Donovan after last season's 31-51 finish, and Taj Gibson retired as a player on September 14 to join Splitter's staff as an assistant. New leadership on a roster this unsettled cuts both ways, patience or urgency, depending on who is asked.

Last Year's Floor. Last season Chicago finished 31-51 with the NBA's 25th-ranked offense, 22nd-ranked defense and a rating differential of -5.3, 23rd league-wide. Those numbers are the floor both plans are trying to build from.

The Kuminga Fog. A September 11 report grouped Chicago with Kuminga, the Cavaliers, Pacers and Pistons, without saying why. If a further move is coming, it hasn't been explained, and it would settle this question one way or another.

On deck Preseason opens October 7 against the Suns, with games against Memphis on October 9, at Denver on October 11 and at Milwaukee on October 14, before the regular-season opener October 21 at Toronto.

Is Bryson Graham rebuilding the Bulls or trying to win now?

Both — Chicago protected its own first-round picks through 2030 while also paying 21.5 million dollars for Norman Powell and 23.1 million for Nic Claxton, two veterans with no obvious place in a pure youth movement.

When do the Bulls play their first game of the season?

Chicago opens preseason October 7 against the Suns and opens the regular season October 21 at the Toronto Raptors.