Even after their small series of moves surrounding the 2026 NBA Draft, the Chicago Bulls still had work to do this offseason.
After the trade for Nic Claxton, in which the Bulls absorbed the veteran center into their cap space, they still had around $30 million to spend this offseason. Their waiving of Kam Jones, who was acquired in a draft-day trade, brought that number up to around $31 million.
Apart from the simple need to spend money, though, it was always assumed that both Anfernee Simons and Collin Sexton were likely to walk this offseason. Chicago needed a bona-fide shooting guard to complete their starting five.
Norman Powell wholeheartedly provides that. Chicago signed the 12th-year guard to a two-year, $45 million deal. Not only is it a signing that will carry major weight this season in terms of the short-term outlook for the rebuild, but it's not one that jeopardizes their long-term flexibility or their room for development on the roster.
Just in: Free agent Norman Powell has agreed to a two-year, $45 million deal with the Chicago Bulls, sources tell ESPN. Powell joins the Bulls as a potent scorer after an NBA All-Star season in Miami, averaging nearly 22 points over the last two years. pic.twitter.com/7cFk2zFxpD
— Shams Charania (@ShamsCharania) July 1, 2026
Norman Powell is the best thing the Bulls could've asked for on the open market
Entering the offseason, the Bulls were expected to be among the highest-spending teams. There was buzz around potential offer sheets for Peyton Watson or Walker Kessler, or even an unlikely run at Austin Reaves were he to leave the Los Angeles Lakers. But the most likely scenario was always that Chicago found a short-term veteran to add to their budding young core.
They've found that in Powell.
After almost a decade spent as a fringe starter across the NBA, Powell found his stride offensively in 2024-25 with the Los Angeles Clippers, averaging 21.8 points and shooting a remarkable 41.8% from 3-point range. Last season with the Miami Heat, Powell's production stayed steady. Across 58 games, he averaged 21.7 points, 3.5 rebounds, and 2.5 assists while shooting 38% from beyond the arc.
For a Bulls' roster that seemed wide-open when the offseason began, things have solidified pretty quickly. Claxton will start at the five-spot, and it's easy to assume that Caleb Wilson and Matas Buzelis will start at the four and the three, respectively. With Josh Giddey solidified as point guard and the backcourt depth behind him not inspiring much confidence, a strong perimeter shooter at the two-spot was a necessary addition.
While Chicago does have a young guard in Rob Dillingham, Powell's arrival will not stunt his development in the least.
Powell's deal, moreover, carries a team option heading into the second year, as reported by Jake Fischer via X. That likely means that much of the money is frontloaded in 2026-27, allowing both the Bulls and Powell the flexibility to part ways if plans change between now and next offseason.
It's a brilliant move for a front office that had money to spend, and there's ample reason to be ecstatic about Powell's addition to this Bulls squad.
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