The Chicago Bulls had a very disappointing 2022-2023 campaign and find themselves in a bit of a limbo period. The current iteration of the roster was constructed with the intention of Lonzo Ball being the primary point guard; not only is he unlikely to suit up for the 2023-2024 campaign, but there is a chance that Ball never plays in an NBA game again. Losing Ball to injury started a domino effect of issues for this Bulls roster that makes them the right contender for a rebuild. However, EVP Arturas Karnisovas doubled down on this team after the season and believes the Bulls can contend, and this was reflected in his NBA free agency decisions. He made some savvy moves by bringing in veterans Jevon Carter and Torrey Craig, and he retained Coby White on a three-year contract. However, Karnisovas and the Bulls made one move that was an absolute mishap; giving Nikola Vucevic a three-year, $60 million contract in 2023 NBA free agency was the Bulls one big mistake.

Simply put, Nikola Vucevic hasn't been the same player on the Bulls that he was on the Orlando Magic. In two full seasons with the Bulls, Vucevic averaged 17.6 points, 11.0 rebounds, and 3.2 assists per game exactly. This is a stark contrast from the 24.5 points and 12 rebounds he was averaging during his last season with the Magic. Of course, he is not the number one option on the Bulls, but Chicago gave up too many assets for him to not be averaging over 20 PPG. Giving him a three-year contract extension suggests that the Bulls are firmly committing to the current roster, and in general this is a big mistake. This team isn't good enough to compete for an NBA Finals ring, and by the time Vucevic's contract is up, he will be long passed his prime. Although he is a solid player, the Bulls should have let Vucevic walk; instead, they gave him a massive contract that will prove to the biggest mistake the organization made this offseason.

*Stats via ESPN

Signing Nikola Vucevic

The primary reason giving Nikola Vucevic his three-year, $60 million contract extension was a mistake is his age. Vucevic is already 32-years-old, so he will be making $20 million annually when he turns 35. This is way too much money for a guy that is already deteriorating and could be more suited to a bench role by the time the final year of his contract comes up. Trading for Vucevic has already proven to be a mistake, not because he is a bad player, but because he doesn't make the Bulls as relative of a contender compared to other teams in the Eastern Conference. Doubling down by giving him a contract extension worth this much only suggests that the Bulls are not willing to admit their mistake.

Another primary reason that this contract was a mistake is the hit it will put into the Bulls total cap space. Whether the Bulls want to admit it or not, they are going to have to head for a rebuild sooner rather than later. DeMar DeRozan and Zach LaVine look destined to be playing elsewhere as soon as they get fed up with another losing season in Chicago, and as soon as one or both gets traded or leaves in future NBA free agency, the rebuild will be in full go. Nevertheless, the Bulls have already handicapped themselves by investing $20 million annually into an aging Vucevic over the next few seasons. A rebuild will have to be stalled while they figure out how to make more cap space with Vucevic's contract alongside White, LaVine, DeRozan, and Ball's contracts already on the books.

The last reason signing Vucevic to such a large contract was a big mistake is that LaVine is at least going to be in Chicago until the 2026-2027 season when he has a player option on his five-year contract. This indicates that out of everyone, LaVine will be the most eager to contend in the near future. It would have been prudent to use the money that the Bulls gave Vucevic to try and land a star caliber point guard to replace Lonzo Ball; this is the Bulls biggest obstacle in the face of contending, and they lost the capital  they could have used to lure a playmaking guard for LaVine by giving Vucevic his contract. In the end, the Bulls look like they are heading for another mediocre season with a lot of money invested in players who aren't number one options on championship caliber teams. This was all spurred by the biggest mistake of the Bulls 2023 NBA free agency: giving Nikola Vucevic a three-year, $60 million contract.