I'm going to take this with a grain of salt, but here goes. Rusty Simmons of the San Francisco Chronicle reports that the Chicago Bulls will not bring back C.J. Watson next season. The Bulls have until July 10 before Watson's $3.2 million salary (there's been some confusion on this number, but K.C. Johnson of the Chicago Tribune reiterated today that it's $3.2 million and not $3.7 million) becomes fully guaranteed for next year, so they would have to release him before that date.
Again, since this report is not from one of the Bulls guys, I'm not going to preach it as gospel. However, Simmons did cover Watson when C.J. played for the Golden State Warriors, so there is a connection there. Also, Simmons was reporting from the Chicago pre-draft camp. So while I'm going to take it with that large grain of salt, I'm certainly not going to dismiss it (especially because it would not be that big of a surprise).
If the Bulls do indeed waive Watson, that means they are pretty confident that they can sign one of the many point guards on the free agent market. The names of Steve Nash and Jason Kidd have been brought up, but there are plenty of other guys available as well.
Of course, the Bulls could just make this move in order to avoid the luxury tax. Based on history, that certainly would not be shocking either.
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