Story perspectives

Bulls Ink Norman Powell, Two-Year $45 Million Deal

7/1/2026

Summary

Story summary

Norman Powell signed a two-year, $45 million contract with the Chicago Bulls on July 1, 2026.
He averaged 21.7 points, 3.5 rebounds and 2.5 assists while shooting 47 % overall and 38 % from three.
Because Giannis Antetokounmpo trade hard-capped the Heat, they could offer $11.5 million for 2026-27 and signed Tim Hardaway Jr. to a one-year, $6.5 million contract.
The Bulls expect Powell’s scoring to lift their young roster, which posted a 31-51 record in 2025-26.

History

Historical Context

After the 161-day 2011 NBA lockout ended on December 8, 2011, the new CBA set a 49-51 % revenue split and introduced limits such as a one-time amnesty exemption and higher caps for elite rookies. Those constraints have guided later roster moves, evident in the Chicago Bulls’ 2026 $45 million Powell contract and the Miami Heat’s cap-aware signings.

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Story summary

Norman Powell signed a two-year, $45 million contract with the Chicago Bulls on July 1, 2026.
He averaged 21.7 points, 3.5 rebounds and 2.5 assists while shooting 47 % overall and 38 % from three.
Because Giannis Antetokounmpo trade hard-capped the Heat, they could offer $11.5 million for 2026-27 and signed Tim Hardaway Jr. to a one-year, $6.5 million contract.
The Bulls expect Powell’s scoring to lift their young roster, which posted a 31-51 record in 2025-26.

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