The Chicago Bulls and free agent Tracy McGrady spoke at one point about a possible deal, but those talks ended a while ago, as Alex Kennedy of HoopsWorld reports. After officially signing first-round pick Marquis Teague on Wednesday, the Bulls would need to make a trade to free up cap space to sign the veteran, anyways.
McGrady was considered a possible option for the Bulls to add some scoring depth and a veteran presence to the bench, but now the Bulls would need to do some maneuvering in order to fit him on the roster. By signing Teague, the Bulls now don't have the necessary cap space to offer McGrady the veteran's minimum on a one-year deal.
Because the Bulls can't offer the veteran's minimum, they essentially would need to make a trade or buyout one of their current players in order to make McGrady an offer. At this point, that doesn't seem particularly likely, so Chicago's courtship of the once-elite scorer may be over for now.