ESPN’s Adrian Wojnarowski says that free agent centre Smith will sign a three-year, $27 million contract with the Bulls.
Smith became an unrestricted free agent on Friday, declining his $5.42 million player option for next season. The 24-year-old, who ranks 44th on our ranking of the top 50 free agents, receives a significant increase and a longer contract in Chicago.
Smith is set to become the Bulls’ backup centre after Andre Drummond agreed to terms with Philadelphia on Sunday night. With little available cap space, Chicago is likely to sign Smith using a portion of its $12.822 million non-taxpayer mid-level exception. Whether they employ the MLE or sign him in a trade, the Bulls will be hard-capped at $178,132,000.
Smith was traded to Indiana at the 2022 trade deadline after Phoenix picked him with the tenth pick in the 2020 draft. He became a crucial backup for the Pacers over two and a half years, playing rotation minutes as the team advanced to the Eastern Conference Finals. He averaged 9.9 points, 5.5 rebounds, and 1.0 assists in 61 games this season, shooting 59.2% from the field and 42.4% from three.
Smith’s signing is one of several recent moves by the Bulls to build a younger, more athletic roster and reduce their reliance on veterans. Over the weekend, they traded for Josh Giddey and reached an agreement with free agent Patrick Williams on a new five-year contract.
