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.
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Bulls' Zach Collins: Staying with Chicago
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Collins (toe) agreed to a two-year, $17 million extension with Chicago on Tuesday, Shams Charania of ESPN reports.
Collins will return to Chicago on a multi-year deal rather than testing free agency. The big man was limited to just 10 regular-season games during the 2025-26 campaign, averaging 9.7 points, 5.6 rebounds and 1.5 assists in 18.4 minutes per contest while dealing with a left wrist fracture early in the season before suffering a right toe sprain that ultimately required surgery. Collins figures to provide center depth off the bench alongside Jalen Smith (calf) behind the recently acquired Nic Claxton (finger).
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Bulls' Houston Mallette: Signs with Bulls
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Mallette signed an Exhibit 10 deal with the Bulls.
Mallette will have the chance to compete for a roster spot at training camp. During his last season at Alabama as a fifth-year senior, Mallette averaged 6.6 points, 4.5 rebounds and 1.1 assists.
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Bulls' Donovan Atwell: Joins Bulls for camp
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Atwell signed an Exhibit 10 deal with the Bulls on Monday, according to Jake Weingarten of Stock Risers.
Atwell will compete for a roster spot at Chicago's training camp. During his senior season as Texas Tech, he averaged 13.5 points, 3.2 rebounds and 3.8 three-pointers on 45.8 percent shooting from beyond the arc.
The Bulls picked up their $2.4 million team option for Miller on Saturday, Keith Smith of Spotrac.com reports.
Miller played well after getting traded to Chicago last season, churning out regular-season averages of 11.7 points, 5.8 rebounds, 1.3 assists and 1.1 triples per contest on 56/36/76 shooting splits. However, with the additions of Dailyn Swain and Caleb Wilson, it could be tough for Miller to find meaningful minutes in the rotation when the team is healthy.
Bulls' Tobe Awaka: Agrees to two-way deal with CHI
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Awaka has agreed to a two-way contract with the Bulls, Joel Lorenzi of The Athletic reports.
Despite being undersized at 6-foot-8, Awaka is a terrific rebounder who plays with a lot of grit on defense. He still has a lot of room to grow on offense, though, so he'll likely be a project for the Bulls this season, spending most of his time in the G League.
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Bulls' Jaylin Sellers: Inks two-way deal with Chicago
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Sellers signed a two-way deal with the Bulls on Wednesday, Dushawn London of CBS Sports reports.
Sellers played well in his final season at Providence, averaging 18.3 points, 4.2 rebounds, 1.6 assists and 2.4 triples per game on 47/43/86 shooting splits. His lights-out shooting helped earn him a spot on the Bulls' roster, but he'll likely spend most of his rookie season with their G League affiliate.
The Pacers traded Jones to the Bulls on Wednesday in exchange for Braden Smith, Shams Charania of ESPN reports.
Jones will join a crowded backcourt in Chicago, so he could have a tough time lasting beyond training camp. Jones averaged 4.4 points and 3.2 assists across 37 games with the Pacers last season.
Bulls' Tre Jones: Early favorite for starting role?
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Jones is in a position to begin the 2026-27 season as a starter after the Bulls drafted Caleb Wilson and Dailyn Swain on Tuesday.
Jones appears to be a big winner from a fantasy standpoint of Chicago's early offseason moves. Wilson and Swain should occupy their time at the forward spots, while Anfernee Simons (wrist) and Collin Sexton could also be on the move this summer as unrestricted free agents. Last regular season, Jones averaged 15.5 points, 5.6 assists, 3.6 rebounds and 1.3 steals in 28.2 minutes per tilt in 41 games as a starter, and a similar role could be on the horizon next year, especially if both Simons and Sexton walk.
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Bulls' Jalen Smith: Reduced role on tap for 2026-27
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Smith (calf) is in line to open 2026-27 as the backup center behind Nic Claxton (finger).
Smith got a chance to start for the Bulls at times in 2025-26 as they searched for Nikola Vucevic's replacement, averaging 12.1 points, 7.1 rebounds, 1.0 assists and 0.8 blocks in 24.6 minutes per tilt across 21 regular-season games as a starter last season. Now that Claxton is in the picture, Smith appears primed to revert to the No. 2 center role in 2026-27, which could cap his upside from a fantasy perspective. Availability has also been a concern for Smith throughout his career, as he's never reached the 70-game mark in any of his first six seasons.
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Bulls' Noa Essengue: Falling further down depth chart
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Essengue (shoulder) appears to be buried on the depth chart in the frontcourt after the Bulls picked Caleb Wilson at No. 4 and Dailyn Swain at No. 15 during the 2026 NBA Draft.
Essengue's rookie campaign was ruined due to shoulder surgery in December of 2025, limiting him to just two appearances at the NBA level. However, the 2025 first-rounder averaged 23.0 points, 8.3 rebounds, 2.5 assists, 1.3 three-pointers, 1.0 blocks and 1.0 steals in 30.8 minutes per game over four appearances for the Windy City Bulls. Essengue stands out as a prime candidate to begin the 2026-27 season in the G League due to all of Chicago's frontcourt additions.
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Bulls' Matas Buzelis: More competition incoming
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Buzelis (ankle) will have more competition for usage in the frontcourt following the selections of Caleb Wilson and Dailyn Swain as well as Chicago's acquisition of Nic Claxton (finger).
After trading away Nikola Vucevic at the deadline last year, the Bulls addressed a thin center position by acquiring Claxton ahead of Tuesday's draft. Wilson and Swain, however, pose even more significant threats to Buzelis' role at the forward spots. Buzelis could see less action as a small-ball center in 2026-27, but he certainly appears to be locked into a starting role to open the new year.
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