Bulls offering Nocioni $38M

Bulls offering Nocioni $38M
By K.C. Johnson
Tribune staff reporter
July 4, 2007, 11:07 PM CDT

Several twists and turns still could develop before the free-agent signing moratorium ends July 11.

But for one relatively quiet holiday, some momentum swung the Bulls' way in the wooing of Andres Nocioni.

As one of only three teams with significant cap room now that the Orlando Magic has reached an oral agreement with Rashard Lewis, the Memphis Grizzlies are weighing their options with interest in Nocioni as well as Cavaliers restricted free agent Anderson Varejao.

The longer the Grizzlies wait, however, the more attractive a Bulls offer that already is on the table could become.

A source said the Bulls' five-year offer starts near $6.3 million to $6.4 million for the first season. Factoring in a 10.5 percent increase of the first season's salary annually, the total package sits at approximately $38.1 million to $38.7 million.

The Bulls could increase that offer and also would have seven days to match any offer sheet Nocioni signed with Memphis. General manager John Paxson has vowed to match any offers for his hyperactive forward.