The Bulls carry $164.3M in payroll, just under the $165.0M salary cap and nowhere near the $200.4M tax line. They own every first-round pick from 2027 through 2030, and next summer's options give the front office more control than a 1-5 start suggests.
Where the money sits. Payroll is $164.3M against a $165.0M cap. That leaves no room to sign anybody outright, but Chicago is far below the $200.4M tax line, the $209.0M first apron and the $221.7M second apron. No apron rules tie this front office's hands. It has no cap space either. The Bulls sit in the middle.
Top of the sheet. Josh Giddey makes $25.0M, Nic Claxton $23.1M, Norman Powell $21.5M, Patrick Williams $18.0M and Isaac Okoro $11.8M. Claxton has not played because of his hamstring and is targeted for Nov. 4. Williams was cleared from a groin issue on Oct. 30. So far the big money has bought a 1-5 record.
Powell is the club's call. Powell carries a $22.6M team option for 2027-28, so Chicago decides, not him. He is 33 and scored 16 at Boston, 7 of 8 from the line. Pippen Ain't Easy's Maxwell Ogden wrote that his Bulls tenure could be brief. That option is the biggest lever on next year's books.
Hield and Jones. Buddy Hield earns $9.7M and holds a $10.1M player option, so that call is his. Tre Jones is at $8.0M with an $8.0M team option, so that call is Chicago's. Jones had four steals in Boston but finished minus-22 in 20 minutes. Those are mixed results from a backup the Bulls control.
What falls off. Okoro at $11.8M, Jalen Smith at $9.4M and Leonard Miller at $2.4M are not on the 2027-28 sheet. Claxton drops from $23.1M to $20.9M. Caleb Wilson rises to $11.2M. After the Oct. 20 option decisions, Matas Buzelis goes to $7.6M and Noa Essengue to $6.0M. Zach Collins is at $8.7M.
Giddey and Williams talk. Giddey is owed $25.0M this season and next. Pippen Ain't Easy's Morris Bankston argued that Chicago needs serious talks with Phoenix about him. That is an opinion column, not a report of talks. Joe Cowley of the Chicago Sun-Times reported that Williams' contract status carries no weight with the current regime. Williams is owed $18.0M in both years.
The picks. Chicago owns its first-rounders in 2027, 2028, 2029 and 2030. The 2027 second goes to Oklahoma City, the 2028 and 2030 seconds are swaps, and the 2029 second is theirs. With every first in hand and no apron problems, the Bulls can trade when they decide to.
Are the Bulls over the salary cap in 2026-27?
No. Their payroll is $164.3M, just under the $165.0M cap and well below the $200.4M luxury tax line.
Do the Bulls own their future first-round picks?
Yes. Chicago owns its first-round pick in 2027, 2028, 2029 and 2030, and its 2027 second-rounder is owed to Oklahoma City.
