It has been a move that has been anticipated for years and expected since the Chicago Bulls' season ended with a first round playoff loss to Washington.
The Chicago Bulls front office has been in contact with Boozer throughout the summer to make sure that he was the first to know about any moves.
The Bulls had been holding out hope for a trade that would include the still productive Boozer, but his contract is seen as one of the bigger overpays in the league.
Boozer is owed $16.8M for the final season of his contract. As part of the amnesty procedure, Boozer will go through waivers, where other teams can bid on what they would want to pay for his production with the highest bidder winning his services. The Chicago Bulls will be responsible for the difference.
However, the benefit for Chicago would be that Boozer's $16.8M will not count against the salary cap, opening up about $13M in salary cap space.
That space has already been designated for the acquisition of free agent Pau Gasol (3 years, $22M) and for 2011 draft pick Nikola Mirotic (3 years, $17 to 18M).
In lieu of acquiring their primary target this summer, Carmelo Anthony, the Chicago Bulls have run their alternate plan to perfection.
Meanwhile, with Carmelo Anthony returning to essentially the same team in New York under a new head coach, and Lebron James returning to Cleveland under a new head coach and with all new teammates, Chicago's moves quietly put them at the top of the Eastern Conference.
Lance Stephenson Signs With Charlotte Hornets
In another move that strengthens the Chicago Bulls' claim to the Eastern Conference crown, Indiana Shooting Guard Lance Stephenson has agreed to a deal with the Charlotte Hornets.
Stephenson lead the league in triple-doubles last season and was offered a 5 years, $44M contract to return to the Indiana Pacers.
The offer from the Charlotte Hornets is reportedly 3 years for $27M.
How do you feel about the Chicago Bulls' chances in the Eastern Conference and how far will that go in the NBA Playoffs? Tell us your thoughts in the comments below!
