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It was a disappointing season for the Chicago Bulls in 2022-23. After a somewhat promising 2021-22 season, they took a step back and finished tenth in the Eastern Conference. Although they won their initial play-in game, they lost to the Miami Heat in their second play-in game and failed to make the playoffs. Not only that, but they gave up their first-round pick to the Orlando Magic as part of the Nikola Vucevic trade. They did manage to trade into the draft though, acquiring the Washington Wizards No. 35 pick. The Bulls used that pick to draft Julian Phillips whom they signed to a lucrative rookie contract as per Michael Scotto of Hoopshype.com
The Chicago Bulls signed No. 35 pick Julian Phillips to a four-year, $8.1 million deal, which is fully guaranteed for the first three seasons and includes a team option for the fourth season of the deal, league sources told @hoopshype.
— Michael Scotto (@MikeAScotto) July 12, 2023
The deal is significant for Julian Phillips as second-round picks don't usually receive a contract of that nature. As per Scotto, the Bulls gave Julian Phillips a four-year contract with $8.1 million with the first three years of that contract fully guaranteed. Their decision signals that the Bulls view Phillips in high regard.
In NBA Summer League so far, Phillips has been averaging 9.0 points per game and 4.0 rebounds with splits of 70 percent shooting from the field and 100 percent shooting from the three-point line. He played in two games so far as he was awaiting the signing of his rookie contract. He probably won't see much playing time though this upcoming season. Most of his game action will probably be in the G League with the Windy City Bulls.
Phillips spent one season at Tennessee before declaring for the NBA Draft.