Shams Charania of The Vertical reported the news.
Payne, 23, has been dealing with issues with his right foot for more than a year. He first fractured the fifth metatarsal in his right foot last July, which he later aggravated in September. The injury cost him more than the first two months of the 2016-17 season, which he began with the Oklahoma City Thunder before being traded to Chicago.
While Payne continued to deal with soreness during his time with the Bulls, it was never believed to be serious. He played on the summer league team—a rarity for a third-year player—but struggled in most of his time on the floor.
A 2015 lottery pick, Payne's career has never really taken off due to a combination of ineffectiveness and injuries. He averaged just 5.2 points and 1.8 assists per game in 2016-17, shooting 33.2 percent from the floor.
The Bulls will go into camp with Kris Dunn and Jerian Grant slotted as their primary point guards.