The former Simeon High star verbally agreed to sign a two-year, $40 million deal with the Bulls after the Bucks worked to rescind their qualifying offer past last night’s deadline. This gesture made Parker an unrestricted free agent and allowed the Bulls to negotiate with him without signing him to an offer sheet.
The second year of Parker’s deal isn’t fully guaranteed, sources said. Essentially, it’s a team option, which gives the Bulls and Parker a season to prove he’s healthy after suffering two torn left ACLs in his first four seasons in the league.