As the 2024-25 season comes to a close, the Chicago Bulls have had a disappointing run post-trade deadline. Since the deadline, the Bulls have gone 4-8. Currently 26-38 on the season, the Bulls are basically locked into the 10th seed and the final play-in spot. Chicago sits three games behind the 9th-seeded Miami Heat and five games ahead of the 11th and 12th-seeded Philadelphia 76ers and Brooklyn Nets, respectively.
For Bulls fans, the fear is another season ending in a play-in exit and a worse draft pick. Chicago Bulls Executive Vice President of Basketball Operations, on the other hand, sees a different outlook for the team. In a recent appearance on the Gimme The Hot Sauce Podcast, Karnisovas would speak to Bulls commentator Stacey King about the immediate future of the Bulls:
"After the season, I think we're going to focus on the draft of 2025. I know we're going to get a good player. Then, free agency in 2025. The 2026 draft is going to be pretty good, as well. And then 2026 free agency, we've committed to only a fraction of our salary cap. The salary cap is projected to be $170.0 million in 2026, and we're committed to only $45.0 million right now. That's how we look ahead."Arturas Karnisovas
The Bulls will be flush with cap space come the 2026 offseason
According to Spotrac's NBA Team Salary Cap Tracker: The Bulls are currently projected to have the most cap space available in the 2026 offseason, with over $128 million in available cap space. The belief is that several Bulls, namely Nikola Vucevic, will be on the move this offseason. The big man was dangled in trade talks all season long and will be easier to move in the offseason.
As of now, the Bulls are only committed to five players heading into the summer of 2026. Patrick Williams will be owed $18 million as he enters the third year of his five-year, $90 million contract. Jalen Smith will be owed $9.4 million in the final year of his three-year, $27 million contract.
If the team exercises its club option, Lonzo Ball will be owed $10 million as a part of his two-year, $20 million contract extension signed earlier this season. Matas Buzelis will be owed $5.7 million, with the Bulls almost guaranteed to pick up his club option. Julian Phillips will be owed $2.4 million if the team exercises the club option on him as well.
The elephant in the room for the Bulls will be Josh Giddey. Not signing a rookie extension like many of his 2021 draft classmates did before the 2024-25 season, Giddey has shown the Bulls what type of contract he is worthy of receiving heading into the 2025 offseason. Averaging 13.5 points, 7.6 rebounds, and 6.7 assists per game, Giddey has put up numbers similar to his time with the Oklahoma City Thunder.
While rumors in the summer suggested Giddey was looking for upwards of $30 million per year on a new deal, the Bulls likely hope they can re-sign the Aussie on a more team-friendly deal to make him a core piece of the team's future. The 2026 free agency is stacked from top to bottom. Notable free agents include Damian Lillard, Kevin Durant, Luka Doncic, Kyrie Irving, James Harden, Austin Reaves, Paolo Banchero, Trae Young, Jabari Smith Jr., and Jaden Ivey.
Given the team's recent history, the Bulls need to have strong foundational pieces to attract a free agent of that caliber. Buzlies is likely one of those foundational pieces, and Josh Giddey may be another, but the 2025 draft is a great place to find a piece that could attract a free agent next season.
Tankthon curently has the Bulls drafting 8th, with a 26 percent chance to move into the top four and a 6 percent chance to land the first pick. If the Bulls were lucky enough to land a player like Cooper Flagg, Dillon Harper, or Ace Bailey, a core alongside Buzelis and potentially Giddey could be enticing to free agents next summer.
If Karnisovas and the Bulls take their time heading into the summer of 2026 and avoid trading away any draft picks or making any questionable deals, Chicago could be in the perfect spot to rebuild and become a legitimate contender. Time will tell what route the Chicago Bulls take over the next year.