The Chicago Bulls signed Norman Powell to a two-year, $45 million contract and brought back Zach Collins on a two-year, $17 million deal in the first 24 hours of NBA free agency. Shrewdly, both agreements include team options in the second year and give the Bulls a chance to trade them and move on should things not go according to plan.
Bringing back Collins seems like an odd choice for Bulls executive VP of basketball operations Bryson Graham, especially at that price and given his injury woes. The 28-year-old only played 10 games last season in the Windy City.
Powell is coming off an All-Star year in which he averaged 21.7 points on 47.0 percent shooting from the field and 38.0 percent from 3-point range. His ability to put up points and stretch the floor will be invaluable to a Chicago team that currently can't do much of either.
Their fit on a young, rebuilding team is also questionable, but Graham gave himself failsafes in case he needs to abandon ship — more critically, ones that can bring back future assets.
Bulls' Norman Powell, Zach Collins contracts are tradeable
Sure, all contracts are theoretically tradeable. But Powell's and Collins' deals are partially designed to be easily movable.
The Bulls gave Collins an extension rather than bringing him back as a free-agent signing. As Keith Smith of Spotrac points out, that means the former Blazers and Spurs big man can be traded today.
It's likely that Collins' extension with the Bulls will include no more than a 5% raise from Year 1 to Year 2. That will make Collins immediately trade-eligible instead of triggering a six-month restriction.
— Keith Smith (@KeithSmithNBA) July 1, 2026
I would not expect an immediate trade, however. No sense that's the… https://t.co/gdxBgVGYMu
Essentially, Collins will enter this season on an expiring $8.5 million contract. The Bulls can cut bait next summer — if he lasts that long (though Smith does note that a deal isn't imminent).
That $8.5 million is a good dollar amount to be used as matching salary in a trade. Just saying.
Powell's contract is just as attractive, if not preferrable.
Though he isn't eligible to be traded immediately, the 33-year-old can be moved once the calendar hits Dec. 15. His contract is split down the middle: $22.5 million in 2026-27 and the team option for the same amount in 2027-28.
Powell will be a useful player for Chicago. As mentioned above, he fills a massive void in the team's lineup as a high-level scorer.
But that also makes him useful as a trade chip.
If he stays healthy, the former UCLA standout will be the Bulls' go-to option offensively. He'll see a lot of touches, put up a lot of shots, and, presumably, score a decent amount of points.
If he does that on a middling Bulls team (feels like a safe assumption), he would certainly be attractive to a contender. And if said contender only has to take Powell for a few months and then move on from $22.5 million worth of salary, that should be enough to bring back some draft capital.
Graham just set himself up in a pair of win-win situations.
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