After drafting Marquis Teague and agreeing to terms with Kirk Hinrich, the Chicago Bulls don't need more help at the point guard position as they await the eventual return of former MVP Derrick Rose from an ACL injury.
The deadline for the Chicago Bulls to waive C.J. Watson is July 10. They're attempting to trade him before that date, according to sources.— Alex Kennedy (@AlexKennedyNBA) July 8, 2012
If the Bulls are unable to trade Watson, who performed admirably in Roses' stead up until his fatal decision to pass the ball to Omer Asik at the end of the short-lived playoff run, then they will most likely waive the point guard and allow him to become an unrestricted free agent.
Watson would first have to clear the waivers and hope that nobody picked up his $3.2 million contract option for next season. If that's the case, he can pick and choose who he signs with.
The Bulls are making the right decision here as Rose will return, presumably by the end of the year, and take over the starting job. After signing Hinrich, there was no point in having Watson on the roster as a third point guard while hindering Teague's development.
On the other hand, if Rose doesn't return, the season is a lost cause anyway and Chicago may as well save money.
By shopping Watson, the Bulls are at least attempting to get something for his services. This is different than when Chicago tried to deal Luol Deng or Joakim Noah.
Watson isn't a crucial piece to the championship puzzle that has been put on hold. He's an expendable one.
More than likely, Chicago won't find a buyer for Watson and will end up waiving him, but it's the effort that counts.