NBA Free Agents 2012: Losing Omer Asik Is Blessing in Disguise for Chicago Bulls

Omer Asik is not worth $8 million per year. If the Houston Rockets want to pay him that much, the Chicago Bulls would be better off shaking his hand and wishing him well.

According to Adrian Wojnarowski of Yahoo! Sports, the Rockets have lost their minds: 

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Rockets have reached agreement with Omer Asik on a three-year, $25.1 million contract, league source tells Y! Sports.

— Adrian Wojnarowski (@WojYahooNBA) July 1, 2012"

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As a restricted free agent, the Bulls will have three days to match Asik offer sheet after it's signed on July 11th.

— Adrian Wojnarowski (@WojYahooNBA) July 1, 2012"

This is the first example of a drastic overpay this offseason. The Bulls would be crazier than the Rockets to match this offer sheet.

They would be wise to use the money they planned on signing Asik with ($5 million) to chase a shooting guard. They will still have to find Noah a backup. But you're more apt to find a serviceable, veteran big man for cheap than you are a shooting guard that can contribute.

The two-guard position is still an issue, and the Bulls could now make a strong play at Nick Young or O.J. Mayo. 

Asik was an excellent part of the Bulls' bench this past season. His defensive presence would certainly be missed, but he is completely inept on offense. He's a shot-blocker, defender and rebounder, and that makes him a role-player, nothing more.

He averaged three points, five rebounds and one block per game last year. He was going to play a similar role this year, unless the Bulls plan on trading Joakim Noah. You simply can't substantiate paying an offensively worthless, backup center that much money.

The Bulls could shake loose the money they were gong to pay to Asik, Ronnie Brewer, CJ Watson and Kyle Korver, or some part of the latter three. This would leave the Bulls on the hook for $63 million in salaries owed.

They would still have to sign No. 29 pick Marquis Teague, and fill out the roster, but they could improve the overall quality.

The luxury tax is $70 million, and the more over it a team is, the higher the penalty. The Bulls can't avoid that without trading one or two of their big contracts. But spending more wisely would likely improve the team next year.

The Bulls were going to break the bank by resigning Asik, and retaining Watson, Korver and Brewer. This would have only resulted in placing virtually the same team on the court as last year.

This is best thing that could have happened to the Bulls.

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