State of the Cap: Chicago Bulls
Grade: B+
2009-10 Payroll: $69.8 Million
Highlights: The Baby Bulls were the darlings of the 2009 postseason and are poised to improve their standing in the 2010 playoffs. While they lost Ben Gordon, who provided a huge offensive lift off the bench, it's safe to say that the Bulls have only gotten better. Derrick Rose is a year older, Luol Deng is healthy, and they've improved through the draft (most notably James Johnson) and free agency (Jannero Pargo - a poor man's Ben Gordon). 
Tyrus Thomas
On to the contracts: Derrick Rose will be playing for less than $7 million through the 2011-12 season. Considering he could be right there with Chris Paul battling for "Best PG in the League" by then, that's a bargain. His backup, Kirk Hinrich, is a player thought to be in decline. He had a poor 07-08 season and was used primarily as a reserve last year. He was also injured, playing in just 51 games, the lowest total of his career. Nevertheless, he bounced back to make important contributions in the playoffs against Boston, which is a good sign. With his salary actually decreasing over the next two years, the Bulls won't care if he ever regains his 06-07 form; all they need him to be is a solid backup.
After a big step forward last season, Tyrus Thomas is a highlight for the Bulls. He averaged 11 points, 6 rebounds, and almost 2 blocks per game last year in only 27 minutes per game. Thomas will make less than $5 million this year, so another step forward would mean he's underpaid. He has a ton of potential and has two years left on his contract to prove he could be a cornerstone of this team. If he doesn't, the Bulls could simply let him walk.
The best part about the cap situation in Chicago is that they'll have a great deal of flexibility in the coming years while having their two stars (Rose and Deng) locked up long-term. At season's end, their payroll will be just under $29 million; the following summer, only $20 million. Both summers will have superstar free agents looking for a payday, and all will have to think long and hard about the possibility of playing with a point guard of Rose's caliber. A core of Rose, Deng, Hinrich, and (Insert Superstar Here), with role players like Joakim Noah and James Johnson (both playing under rookie contracts) is a good base for a contender.
Lowlights: For this upcoming season, the lowlights are two Chicago centers, Brad Miller and Jerome James. Miller still has plenty to offer an NBA team, but not at $12 million. He will be the highest-paid player on the roster this year, though his contract is expiring. James' contract is also up at year's end, but any money spent on Jerome James should be considered a waste. Any one of us could do what James does - sit on the bench in a fancy Bulls' warmup suit, never play in a game all season, and blame it on a mysterious injury.
Luol DengI'm going to include Luol Deng as a lowlight, but I do so with caution. In two seasons before last, Deng averaged 17.9 points and 6.7 rebounds per game. He's only 24 and is healthy going into this season, but he makes over $10 million next year and receives a $1 million raise every year until 2013. Is he worth it?
The Future: While the Bulls don't have the same cap space as other teams in the East like the Knicks or Nets, they are in better shape because they have a true franchise player to attract superstar talent in either of the next two summers. As good as Devin Harris is, he's not nearly the player Rose is and will become. Most superstars will jump at the chance to play with a top-tier point guard; some might even take less money. Imagine the pitch they can make to someone like Dwyane Wade: "We'll give you all this money to come home to one of the greatest cities in the United States to play with a potential HOF point guard."
It's been a rebuilding period since MJ's departure, but it finally looks like the Bulls are ready to compete year-in and year-out. They are one star away.
Mike DeStefano can be reached at mike@hoopsdaily.com.
