Report: Bulls close on Gasol; could end Carmelo chase

Report: Bulls close on Gasol; could end Carmelo chase
July 12, 2014, 1:00 am
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Mark Strotman

It appears a Bulls' free-agency splash is about to happen, though it's not the one most fans desired. For now.

According to Yahoo Sports' Adrian Wojnarowski, the Bulls and free agent Pau Gasol are working toward an agreement that would send the power forward to Chicago.

More important for now, a completed deal with Gasol, who reportedly turned down a two-year, $20 million deal with the Lakers, could mean the Bulls have been informed by Carmelo Anthony that he won't be taking his talents to the Windy City. The Bulls would have to use the mid-level exception to complete a deal with Gasol AND still have the money to bring in Anthony on a sign-and-trade with the Knicks. Wojnarowski did not indicate how the Bulls would sign Gasol or for how much.

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Then again, reports earlier today noted that Gasol turned down $11 million annually from the Hawks and $10 million annually from the Lakers. The midlevel exception would earn Gasol $5.15 million in the first year of his contract if they used it on him, so the Spaniard would be taking a significant pay cut if that were the case.

A sign-and-trade scenario could also be in play for the Bulls and Lakers, but Wojnarowski said that was unlikely earlier Friday night.

 

Stay with CSNChicago.com for more updates.