Sam Smith broke the news and K.C. Johnson of the Trib breaks down the ramifications:

Thomas’ $6.46 million contract was set to expire following this season, so it won’t affect the Bulls having roughly $25 million worth of expiring contracts.The buyout means the Bulls likely have enough room under the league’s $69.92 million luxury tax threshhold to sign a veteran big man to a minimum contract this summer.

I’m actually kind of bummed about this. As a 8th-9th-10th man, Thomas is an asset, especially considering the loss of Ben Gordon. He can create a few matchup problems and if he has any strength whatsoever it’s hitting the three. The Bulls may find themselves in need of that off the bench this year. At his height Thomas has no problem getting off shots.

One of the knocks on James Johnson is that he jacked too many 3s and didn’t not score them at a solid percentage. So now that the Bulls are without Gordon and Thomas, here is your list of long-range Bulls bombers: (more…)