Cap Watch: Bulls Sit Well Under the Tax Line

By the Bulls Nightly Desk · Wednesday, October 14

Chicago's $164.3 million payroll sits under the $165.0 million salary cap and far below the $200.4 million tax line, with both aprons still a long way off. That gives the front office room to work as three veteran contracts near their end.

Bulls Nightly artwork — Illustration by Hoops Nightly.

Payroll under the cap. Chicago carries $164.3 million in salary this season, under the $165.0 million cap and well short of the $200.4 million luxury tax line. The first apron sits at $209.0 million, the second at $221.7 million, and the Bulls are nowhere near either one.

Giddey tops the sheet. Josh Giddey's $25.0 million is the largest salary on the books, followed by Nic Claxton at $23.1 million, Norman Powell at $21.5 million, Patrick Williams at $18.0 million and Isaac Okoro at $11.8 million.

Three deals expiring. Okoro, Jalen Smith and Leonard Miller are the three Bulls whose salaries do not appear on the books for 2027-28 — all three set for free agency or a new deal by next summer.

Option decisions ahead. Norman Powell's deal runs through a $22.6 million team option for 2027-28. Buddy Hield holds a $10.1 million player option the same season, and Tre Jones carries an $8.0 million team option — three decisions that will shape next summer's number.

Picks mostly in hand. Chicago owns its first-round picks in 2027, 2028, 2029 and 2030. The 2027 second-round pick is owed to Oklahoma City, and the 2028 and 2030 second-rounders are swaps rather than outright selections.

Room to add. With salary this far under the $165.0 million cap, the front office has space to add before the tax line or either apron even enters the conversation — flexibility a team coming off a 31-51 season needs as it retools under Tiago Splitter.

New boss, clean sheet. Bryson Graham took over as head of basketball operations on May 4, 2026, inheriting a payroll with no bad long-term money attached — every deal on the two-year sheet belongs to a player the previous staff or this summer's moves brought in on purpose.

On deck The Bulls play at Milwaukee tonight in preseason, host Minnesota on October 16, then open the regular season October 21 at Toronto. The cap picture holds steady through that stretch — the next move comes next summer, when Okoro, Smith and Miller come off the books.

How far under the cap are the Bulls?

Chicago's payroll is $164.3 million against a $165.0 million salary cap, roughly $36 million below the $200.4 million luxury tax line.

Which Bulls contract comes off the books first?

Isaac Okoro, Jalen Smith and Leonard Miller are not on the payroll sheet for 2027-28, making them the first veteran deals set to end.