Norman Powell agrees to 2-year, $45M deal with Bulls
Norman Powell has agreed to a two-year, $45 million contract with the Chicago Bulls, according to ESPN's Shams Charania. The 33-year-old guard and 2026 NBA All-Star leaves Miami after the Heat could not match Chicago's offer while hard-capped following their Giannis Antetokounmpo acquisition. The signing gives the Bulls a proven scorer on a short-term deal built around cap flexibility.
ESPN first reported the agreement as NBA free agency opened. Yahoo Sports and HoopsRumors confirmed Powell is headed to Chicago on an outright free-agent contract rather than through a sign-and-trade.
Key Takeaways
- Norman Powell agreed to a two-year, $45 million deal with the Chicago Bulls, per ESPN's Shams Charania.
- The second year includes a team option, giving Chicago flexibility ahead of the 2027 trade deadline.
- Miami could not match the offer because the Giannis Antetokounmpo trade hard-capped the Heat at the first tax apron.
- Powell averaged 21.7 points per game for Miami in 2025-26 and made his first All-Star team.
- The Bulls used cap space to complete the signing outright, consuming most of their remaining room.
Why did Norman Powell leave the Miami Heat?
Powell became an unrestricted free agent after completing the final year of the five-year, $90 million deal he signed with Portland in 2021. Miami had hoped to retain the veteran scorer, especially after he averaged 21.7 points on 47/38/83 shooting splits with 3.5 rebounds and 2.5 assists in 29.6 minutes per game last season.
However, the Heat's blockbuster trade for Giannis Antetokounmpo changed the financial math. According to Yahoo Sports, the move hard-capped Miami at the first apron around $209 million, leaving roughly $18 million to fill out a depth-thin roster.
Powell suffered a groin injury after the All-Star break and never fully recovered. Miami missed the playoffs and he logged just 19 minutes off the bench in a play-in loss to the Charlotte Hornets.
How does Powell's Bulls contract work?
Per HoopsRumors, Powell's deal includes a team option on the second year, as reported by K.C. Johnson of the Chicago Sports Network. Chicago used its available cap room to offer a starting salary well above what teams holding the non-taxpayer mid-level exception — about $15 million — could provide.
Because the Bulls had enough cap space, they signed Powell outright rather than through a sign-and-trade. NBA rules require at least three years on sign-and-trade contracts, and this is a two-year agreement. Miami also held Powell's Bird rights but lacked spending flexibility below its hard cap at the first tax apron.
Cap expert Yossi Gozlan noted the move is expected to consume most of Chicago's remaining room. The Bulls still hold a $9.4 million room exception and one open roster spot. HoopsRumors compared the structure to Bruce Brown's two-year, $45 million Pacers deal in 2023, which featured a team option and ended in a deadline trade.
What does Norman Powell bring to Chicago?
Powell enters Chicago after receiving All-Star consideration in both conferences over the past two seasons. A former second-round pick, he made his first All-Star team in 2025-26. A season earlier, he averaged 21.8 points for the Los Angeles Clippers and pushed Denver to seven games in a 2025 first-round playoff series.
For a Bulls team rebuilding around younger talent, Powell adds veteran scoring and perimeter shooting. Chicago has also committed significant cap room to center Nic Claxton, pairing two veterans expected to play major roles and help the club remain competitive in 2026-27.
The signing marks one of the biggest moves of a pivotal Bulls offseason. For more developing NBA roster news, follow our Celebrity Breaking News coverage.
Could Powell be traded before the deal ends?
HoopsRumors speculated Powell could emerge as a trade candidate at the 2027 deadline given the second-year team option. That structure keeps Chicago competitive now while preserving future financial flexibility as the roster develops.
ESPN's reporting framed the agreement as a win for Powell, who secures a substantial short-term payday, and for the Bulls, who address a backcourt scoring need without a long-term cap burden. The deal is expected to be finalized once league paperwork is completed.