What happened: Chicago Bulls executives finalized Norman Powell's two-year, $45 million contract on Wednesday morning, closing the agreement with representatives Jason Glushon and Khalid McCaskill. Powell joins the Bulls as a free-agent addition after reaching an agreement earlier in the window.

Why it matters: Powell gives Chicago a proven perimeter scorer coming off his first All-Star season, adding shot creation and floor spacing to the rotation. At two years and $45 million, the deal is a significant commitment for a wing expected to shoulder a scoring load heading into the 2026-27 season.

What to watch: Watch how the Bulls round out the rest of their rotation around Powell and where he slots into the starting lineup once training camp opens.