Powell agreed to a two-year, $45 million contract with the Bulls on Wednesday, Shams Charania of ESPN reports.
Powell has averaged at least 21 points per game in each of the past two seasons, including his first All-Star appearance during his age-32 campaign with the Heat in 2025-26. However, the veteran will now join his third team in as many years, likely serving as the starting shooting guard next to Josh Giddey in Chicago's backcourt.