During the summer of 2010, the Bulls signed Carlos Boozer to a max contract worth $80 million over five years. Because of his drop in productivity, Boozer and his $16.8 million salary for this upcoming season have been waived via the amnesty provision.
Boozer will still be paid by the Bulls, but his number won’t count against the cap. This has been rumored for more than a year and it’s for the best interest of the Bulls.
That excises Boozer’s expiring $16.8 million salary from the Bulls’ salary cap and luxury tax figures, creating space to sign Pau Gasol and Nikola Mirotic. Kirk Hinrich will be signed via an exception, and the Bulls will add a guard either via trade or veteran’s minimum exception.
Teams currently with cap space now can make a blind bid by Thursday to sign Boozer. The highest bid will claim him, set his salary for the 2014-15 season and the Bulls will pay the difference between that figure and $16.8 million. If no teams bid, Boozer becomes a free agent available to any team but the Bulls.
H/T: chicagotribune
