TITLE: Bulls Approach 2026 Offseason With $56 Million in Cap Space, Two First-Round Picks
SLUG: bulls-2026-offseason-preview-cap-space-draft-coach-search
CONTENT:
The Chicago Bulls open the 2026 NBA offseason facing a full-scale rebuild, a new front office and sizable financial flexibility. After finishing 31-51 and dismissing executive duo Artūras Karnišovas and Marc Eversley on April 6, the franchise now turns to newly hired head of basketball operations Bryson Graham to reset the direction of the team.
How Chicago Got Here
Chicago’s gradual teardown began in 2024 when DeMar DeRozan and Alex Caruso departed, followed by Zach LaVine’s move to Sacramento in February 2025. The roster overhaul accelerated at this season’s February 5 trade deadline: Nikola Vučević, Coby White, Ayo Dosunmu and Kevin Huerter were dealt in four separate trades that produced nine second-round picks but little immediate talent in return.
One of those deals sent Huerter to Detroit and brought back former No. 5 overall pick Jaden Ivey. Ivey was waived on March 31 for conduct detrimental to the team after controversial social-media comments and lingering knee trouble, adding to criticism of the previous regime’s decision-making.
Lottery Luck and Draft Capital
The Bulls closed the season on a 7-24 slide, finishing with the league’s ninth-best lottery odds and a 20.2 percent chance to jump into the top four. The ping-pong balls finally bounced their way as Chicago landed the No. 4 selection in a class headlined by AJ Dybantsa, Darryn Peterson, Cameron Boozer and Caleb Wilson. The club also owns pick No. 15 and two second-round slots (Nos. 38 and 56), tying for the most selections in this year’s draft.
Financial Flexibility
Years of short-term contracts and the deadline sell-off have positioned the Bulls to enter free agency with an estimated $56 million in cap room, one of the largest war chests in the league. How Graham deploys that space—whether by chasing veterans, absorbing contracts for assets or preserving future flexibility—will shape the early stages of the rebuild.
Coaching Vacancy
The offseason to-do list also includes hiring a successor to Billy Donovan, who declined his 2026-27 option and left after four seasons. The coaching search, draft strategy and cap-space plan represent the organization’s three immediate priorities.
Evaluating the Young Core
Graham must also decide how 2025 lottery pick Noa Essengue, 2024 first-rounder Matas Buzelis and guard Josh Giddey fit into long-term plans. None of the trio were acquired under the new leadership, leaving their futures open for evaluation.
With fresh management, ample draft capital and significant spending power, the Bulls enter the 2026 offseason poised for their most consequential decisions since the dismantling of the previous core.
Source: Hoops Rumors
