The Chicago Bulls selected Kentucky Wildcats point guard Marquis Teague with the No. 29 overall selection in the 2012 NBA Draft to give the team a long-term solution at backup point guard. One problem: Teague is the only first round draft pick who has yet to sign a contract.
The Bulls are up into the luxury tax for the first time in franchise history, and the team is certainly concerned about incurring the fine with the penalties set to get more punitive after the 2012-2013 season, which include added punishments to repeat offenders.
Mark Deeks has a full post up at Sham Sports examining the issue. He concludes the Bulls are likely attempting to sign Teague for under 120 percent of his rookie slot, which is what nearly every draft pick ends up signing for.
It's another bit of ammunition for those of us who believe the Bulls are frugal to a detriment, especially considering that Forbes Magazine projected the franchise as the league's most profitable over the last five years.