Report: Bulls reach agreement with free agent Norman Powell

The Bulls pressed pause on their youth movement Wednesday morning by agreeing to terms with free-agent shooting guard Norman Powell.

The deal is for two years and $45 million, according to ESPN's Shams Charania.

The Bulls had a clear need for more scoring and veteran experience. Powell is 33 with 11 years in the league, and made the all-star team for the first time last season while averaging 21.7 points per game for Miami. He's shot better than 40% from 3-point range in six of his 11 years in the league.

One obvious question is why would Powell join the Bulls, a rebuilding team with very low playoff aspirations in the short term. The likely answer is there aren't many NBA teams with money to spend this summer, so Powell grabbed the best available offer and can always be traded to a contender at a later date.

Or if the Bulls young roster progresses quickly, maybe Powell becomes an important veteran presence. For now, he's the 14th player on the roster for next season. The Bulls can add another player, but don't have to. Some teams like to keep the flexibility of an open roster spot.

The Bulls have also spent all their cap space, but could still use the below-cap mid-level exception worth $9.3 million. So it's possible their work is done for the summer, but no guarantees.

Besides Powell, the Bulls agreed to extend power forward Zach Collins on a two-year deal, guaranteed Leonard Miller's contract for next season, and have the reported trade for Brooklyn center Nic Claxton set to become official in a few days.

A potential starting lineup would include Josh Giddey, Powell, Matas Buzelis, top draft pick Caleb Wilson and Claxton.

Wilson, Dailyn Swain and Noa Essengue are expected to be a part of the Bulls' summer league squad, which will open play in Las Vegas on Friday, July 10 against Memphis.