Happy Monday, Bulls fans!
We’re in the final week of July, and we’re not too far away from the Bulls announcing their preseason and regular-season schedule. It’s still over a couple of months until basketball is back, but it’s definitely something to look forward to. Until then, though, we have something new to speculate about, what Chicago could do with its final roster spot. And it could end up being a real steal.
Let’s talk Bulls basketball.
Dalen Terry © Erik Williams-Imagn Images The Oklahoma City Thunder offered restricted free agent Spencer Jones a two-year, $12 million offer sheet. Yesterday, the Denver Nuggets matched it. In doing so, they may have created a new problem for themselves, one the Chicago Bulls could potentially exploit. This was a brilliant move by Sam Presti. Not only did Oklahoma City force Denver into a difficult financial spot, but Jones’ offer sheet also includes a no-trade clause, making him effectively untouchable for now. That leaves the Nuggets with fewer options and could ultimately force them to weaken their roster, good news for the Thunder and the rest of the Western Conference.Loved what Presti did to Denver with the Spencer Jones offer sheet, never understood why NBA teams are always so eager to help everyone else out. This was an Auerbach-like old-school cutthroat “we are trying to F over a competitor” move. And OKC actually needed a D wing.
— Bill Simmons (@BillSimmons) July 26, 2026 By matching Jones’ deal, the Nuggets became the only team in the NBA operating above the second apron. While the rest of the league has been doing everything it can to get out of that expensive, restrictive territory, Denver has stepped into it with one major piece of business still unfinished, Peyton Watson.Denver finances and roster* Spencer Jones contract is a flat $6M in Y1 and declines to $5.75M in Y2.* He cannot be traded without his consent and is not allowed to be moved to OKC for this season* Tax penalty=$68M* Second Apron team pic.twitter.com/W7DUqjwgPv
— Bobby Marks (@BobbyMarks42) July 27, 2026 Watson broke out for the Nuggets last season, averaging 15 points, 5 rebounds, 2 assists, and 2 stocks per game, making him one of the biggest names still somewhat available in free agency. As a restricted free agent, Denver can match any offer sheet he signs. But being a second-apron team makes that much more difficult. The luxury tax bill gets even steeper, and building out the rest of the roster becomes far more complicated. The Atlanta Hawks, Milwaukee Bucks, and Los Angeles Clippers have all reportedly shown interest in Watson. If Denver wants to keep him out of those shark-infested waters, it may have to shed salary elsewhere. The most obvious trade candidates are Cam Johnson and his $23 million expiring contract, Christian Braun, whose new five-year, $125 million extension kicks in this season, or, if all else fails, Aaron Gordon and the three years and roughly $70 million remaining on his deal. This is where the Bulls could come into the picture. Chicago still has roughly $11.3 million in cap space and one open roster spot. Taking on one of Denver’s unwanted contracts wouldn’t be easy, but it isn’t impossible for a cap expert to figure out. In return, the Bulls could push for additional draft compensation, perhaps even trying to pry away Denver’s 2033 first-round pick. I’m not saying I know exactly what the trade would look like, or whether it would even be a two-team deal. But we do know the Nuggets are in a difficult spot, and this feels like the exact type of opportunity Bryson Graham has talked about when discussing how the Bulls could use their remaining cap space. In other free agency news, the Philadelphia 76ers have waived former Chicago Bulls first-round pick Dalen Terry, along with Johni Broome, to make room for LeBron James and Kentavious Caldwell-Pope.According to the NBA’s publicly available transactions log, Philadelphia has officially signed LeBron James … after waiving Dalen Terry.More NBA from @JakeLFischer and me: t.co/f1s0KZryLW pic.twitter.com/lbIYisU4y8
— Marc Stein (@TheSteinLine) July 26, 2026 Terry was traded to the Sixers at last season’s trade deadline, where he appeared in 14 games and averaged 4 points per game. Despite still being just 23 years old, his tenure in Chicago remains one of the disappointments of the AKME era. Still, he’s young enough that another team could take a chance on him before next season. Hopefully, someone does. And finally, Bulls fans are coming together to create a mural honoring the late Stacey King. A three-time NBA champion with Chicago and the iconic voice of the Bulls since joining the broadcast booth in 2007, King passed away unexpectedly earlier this year. The Bulls have already announced they will honor him throughout the upcoming season. The mural is expected to be finished in about a week and will be located in Logan Square at 2929 W. Fullerton Ave., right by the Blue Line. I can’t wait to check it out.@Ball_InMyHand friend of mine is painting this pic.twitter.com/zyM1jaqbNe
— shawn thomson (@shawnthomson2) July 26, 2026BULLS ON BLEACHER NATION: Go Ad Free | Subscribe to the BN Newsletter
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