Almost every team in the NBA will face a difficult set of decisions this offseason. But the Chicago Bulls are among the select few whose choices will reflect a more existential set of outcomes.
The Bulls stripped down at the trade deadline, moving on from Ayo Dosunmu, Dalen Terry, and Nikola Vucevic among others. As it stands, they have 10 players under contract for next season. Only one of those, Josh Giddey, is making more than $20 million.
They're currently eighth in the NBA in cap space. If they choose to pursue the market aggressively this offseason, they'll be among the league's most competitive teams. But that pesky 'if' is the hang-up here.
Rumors have connected a number of teams to pending restricted free agent Peyton Watson this offseason, including Chicago. It's not hard to imagine a world where Watson, a staunch defender and a lengthy wing, would be attractive to the Bulls.
But it would cost them more than a pretty penny to even have a shot at signing him, and the presence of Watson and other restricted free agents like Walker Kessler leaves Chicago with an existential question to answer. Are they ready to dish out major capital to bring in young talent?
Bulls will need to use this offseason to decide what type of reset they're undertaking
If it becomes clear the Denver Nuggets won't be able to match the market on Watson, he will immediately become one of the most coveted free agents available. He stepped up in a major way for an injury-riddled Denver team this season, averaging 14.6 points, 4.9 rebounds, and 2.1 assists while shooting 41.1% from beyond the arc across 54 games.
The Nuggets will do all they can to retain him. But if the market dictates a contract somewhere in the range of four years and $100 million, Denver will be hard-pressed to keep their books in order. They are currently slated to be just $2 million below the second apron in 2026-27.
A team like Chicago has ample reason to have their ear to the ground regarding Watson. But would it be the right move for the organization?
The Bulls' flurry of moves at the trade deadline, frankly, don't tell us much apart from the fact that it was time for a change. There was very little thought given to roster balance, and the only constants on the team moving forward are likely Giddey and Matas Buzelis.
If they feel that the core they currently have in place, augmented by a pair of first-round picks, would quickly be ready for contention with the addition of a piece like Watson, they have the financial flexibility to at least contend for his services. But it's quite possible the organization would be better serviced in the long-term by filling up that cap space with veteran contracts, taking on draft picks in exchange for serving as the NBA's dumping ground.
It certainly wouldn't be the most exciting path to take, but rebuilds normally fail when organizations do not have clear visions for how to execute them. The Bulls' interest, or lack of interest, in Peyton Watson could therefore go a long way toward revealing what path they want to take this offseason.
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