Allen was waived by the Bulls on Friday.
With the Bulls unable to put a trade package together for Allen, who they acquired in a deal with New Orleans at the start of February, the team will release him and allow him to land on a team of his choice. While the veteran is near the end of his NBA career, he is still a strong perimeter defender and could be a key player in a playoff team's rotation. However, given his lack of offensive production, no matter where Allen lands, he won't be a viable fantasy asset.