Chicago made a shocking move on Day 2 of NBA Free Agency, signing All-Star guard Norman Powell away from the Miami Heat.
Bryson Graham is making a splash signing in free agency, bringing an All-Star shooting guard to the Chicago Bulls.
Free agent Norman Powell, who earned his first career All-Star nod last season with the Miami Heat, is heading to the Windy City on a two-year deal. ESPN's Shams Charania reported on Wednesday morning that the Bulls are signing Powell to a $45 million contract, which will erase all of Chicago's remaining cap space.
The Bulls still have their $9.4 million Room Mid-Level Exception to sign a 15th player to their roster, thanks to Zach Collins signing an extension before the new league year began on July 1.
Powell had one of his best seasons as a pro in 2025-26, averaging 21.7 points, 3.5 rebounds, 2.5 assists and 1.1 steals per game. The 6-foot-3, 215-pound guard made 58 appearances and 52 starts as Tyler Herro battled injury, shooting 47.0% from the floor and 38.0% from deep. Powell is a career 39.6% shooter on three-pointers, but his accuracy from beyond the arc dipped as he embraced a larger offensive workload last season.
Despite being Miami's only All-Star a year ago, the Heat could not afford to retain Powell after trading for two-time MVP Giannis Antetokounmpo. Chicago entered the offseason with significant cap space, opening the door for the team to sign Powell.
Mar 25, 2026; Cleveland, Ohio, USA; Miami Heat guard Norman Powell (24) looks to pass beside Cleveland Cavaliers guard Keon Ellis (14) in the third quarter at Rocket Arena. Mandatory Credit: David Richard-Imagn ImagesAt 33 years old, Powell doesn't exactly meet the timeline for the Bulls' young core. Graham has made it clear that Chicago is entering a rebuild, and No. 4 overall pick Caleb Wilson, No. 15 overall pick Dailyn Swain, 21-year-old Matas Buzelis and 23-year-old Josh Giddey appear to be the centerpieces.
The signing appears to signal how Graham intends to adapt to the new NBA Draft Lottery rules, which punish the bottom three teams with a "relegation zone" that features one less ping pong ball. Chicago's best odds at winning the lottery would come if it is between the fourth-worst and 10th-worst team in the NBA, with each of those teams receiving three balls.
Unlike the previous lottery system — in which the top four picks were drawn and the remainder were decided by the reversed standings — teams can now slide anywhere between the Nos. 1 and 16 overall picks. By signing Powell, the Bulls likely do not have enough talent on their roster to contend for the playoffs, but they will be well-positioned to avoid the relegation zone entirely.
Powell's two-year deal is significant for several reasons. Because it is not at least three years, the Bulls cannot initiate a sign-and-trade with Miami, meaning they do not have to give anything up to sign Powell. He is also eligible to be traded as soon as Dec. 15, so a contending team could decide to send Chicago future draft capital if they want to acquire Powell on a rental.
The two-year contract will also see Powell become a free agent in 2028, when a new extension for Buzelis would be expected to kick in. Chicago can use Powell's leadership as a veteran to help develop the team's young core, then either trade him at a high value or benefit from the production of a proven sharpshooter.
Powell was a second-round pick in the 2011 NBA Draft. He spent seven seasons in Toronto — where he won the 2019 NBA Finals — before playing two seasons with the Trail Blazers and four with the Clippers.
