Chicago Bulls

Bulls: Jimmy Butler named to All-NBA Third Team

Bulls: Jimmy Butler named to All-NBA Third Team

Jimmy Butler has been named to the All-NBA Third Team.

Butler averaged career-highs across the board in his sixth NBA season with 23.9 points, 6.2 rebounds and 5.5 assists in 76 games.

He's the first member of the Bulls to earn All-NBA honors since Pau Gasol was named to the All-NBA Second Team in 2015.

Butler joins these players as members of the Bulls to be named to All-NBA teams: Bob Love, Norm Van Lier, Michael Jordan, Scottie Pippen, Derrick Rose, Joakim Noah, Pau Gasol.

He joins John Wall, DeMar DeRozan, Draymond Green and DeAndre Jordan on the third team.

The first team consisted of James Harden, Russell Westbrook, LeBron James, Kawhi Leonard and Anthony Davis.

The second team consisted of Stephen Curry, Isaiah Thomas, Giannis Antetokounmpo, Kevin Durant, Rudy Gobert.

Bulls reach buyout agreement with Dwyane Wade

Bulls reach buyout agreement with Dwyane Wade

Dwyane Wade's Bulls career is set to end just over a year after it began.

According to the Chicago Tribune's K.C. Johnson, the Bulls and Wade have reached an agreement on a buyout.

CSN Chicago's Vincent Goodwill confirmed the report.

Wade signed a two-year, $47.5 million deal with the Bulls last July and averaged 18.3 points, 4.5 rebounds and 3.8 assists per game in 60 games with the Bulls. This summer, Wade exercised his player option for the second year of the contract, worth $23.8 million.

Wade picked up his option just two days before the Bulls traded Jimmy Butler on draft night and went into rebuild mode. According to Goodwill, Dwyane Wade is giving back $8.5 million.

The Bulls will go into next year without any of the 'Three Alphas' the team had last year Wade, Butler and Rajon Rondo.

The news comes a day before Bulls Media Day, which will be live on CSN at 2:30 p.m., and on the same day the team agreed to a two-year deal with Nikolia Mirotic.

Wojnarowski also reported Cleveland, San Antonio, Miami and Oklahoma City are the contenders to sign Wade.

Bulls bring back Nikola Mirotic on two-year deal

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USA TODAY

Bulls bring back Nikola Mirotic on two-year deal

The Bulls and Nikola Mirotic ended their summerlong impasse by agreeing to a two-year, $27 million deal on the eve of training camp, sources tell CSNChicago.com.

Mirotic was a restricted free agent and was at risk of not being at Media Day Monday had he and the Bulls not come to an agreement, but the sides came away with a deal both will probably say is advantageous. Mirotic has a no-trade clause in the first year of the deal and the second season is a team option according to sources, preserving the big cap space the Bulls have when Dwyane Wade's $23.8 million contract comes off the books.

Mirotic and his representatives were looking for an offer sheet in the $16-17 million range when free agency first began, hoping the Bulls would match on what was expected to be a boom market.

But the boom went bust very quickly and free agent money dried up, leaving Mirotic with a $7.2 million qualifying offer the Bulls seemingly weren't budging from. But the Bulls reversed course, apparently relenting on the qualifying offer to sweeten the deal, which also helps the Bulls get to the salary floor for the coming season.

Mirotic's tenure with the Bulls has been tantalizingly frustrating after a promising finish to his rookie season in 2014-15. Unable to put together consistent stretches under Fred Hoiberg, there was question as to if Mirotic fit in the short-term plans, let alone the big picture as the Bulls are gearing up for a long rebuild.

But letting the 6-foot-10 Mirotic go was a little too much for the front office to stomach, as they appear to hold onto the slightest bit of hope Mirotic can develop into a versatile scorer without having the burden of big pressure around him. Unfortunate circumstances and injuries have played a part in Mirotic's inconsistencies, as he's played considerably better after the All-Star break in his three seasons. 

If not, they can cut bait with Mirotic after the season and start over, yet again.