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Why they signed him: The Bulls traded away John Salmons at the deadline last year, and lost Kirk Hinrich to free agency. These were both decisions more than losses, as Chicago wanted to clear enough cap room to have a huge off-season. While they didn't land LeBron, Wade, or Bosh, they landed arguably the biggest prize left in Carlos Boozer. They also added Kyle Korver, Ronnie Brewer, and Keith Bogans. Anyone would take that haul over a good backup PG, especially when your stater is Derrick Rose. But they still needed a backup PG.
What they got: A good backup PG, at a much cheaper price than Salmons or Hinrich. Watson spent three years in Golden State, where in 23 MPG, he shot 46% from the field, 35% from deep, 82% from the stripe, and is coming off a season where he had 1.6 SPG, 2.8 APG, and only 1 TPG. He is a good ball handler, disciplined decision maker beyond his years, and has shown excellent shooting efficiency (40% 3's, 87% FT in 08-09). Despite his career worst 3 point % last year, he set a career high in overall FG%.
How he'll help: Chicago was dismal from beyond the arc last year and mediocre on free throws. Watson had a huge drop-off in these areas last year, but this was in the midst of a hectic Warriors' offense in which C.J. saw nearly 28 MPG of court time, way too much for a proto-typical bench player like himself. This extra time on the court, however, did allow Watson to develop a very reliable mid-range game, and he became a smarter passer and present floor general. Chicago can't afford to lose Derrick Rose, but can easily afford to rest him. Watson is not only an ideal backup PG, but has shown a knack for hitting big shots, and could play the two if Chicago wants him on the floor as another option for Rose.
Bang: Perfect backup PG
Buck: 3 years, $10.2 million