Update on the Bulls cap situation after the Sean Kilpatrick waiver: Chicago is still operating as a team over the cap based on the $8.6 (midlevel), $3.4 (bi-annual), $9.0 (trade), $2.6 (trade) and $1.3 (trade) million exception combined with the $10.5 million Noah Vonleh and $1.7 million David Nwaba free agent hold.
The maximum cap space that Chicago can create is $20.4 million but would come at the cost of losing the above exceptions. The Bulls have a July 18 guaranteed date on the $1.5 million Paul Zipser contract and August 1 for the $1.6 million Julyan Stone cap hit. July 13 is also the last date to pull the qualifying offer for Nwaba without the consent of the player. The Bulls have 12 guaranteed contracts.
