It's still too early to tell, but it certainly can't hurt the Bulls' chances.
In the short term, the Richardson move probably means that at least one Orlando contributor won't be back next season. Here's one the Bulls should go after: Matt Barnes.
Barnes has played for seven teams during his seven-year career and is looking for a long-term deal after opting out of his contract after the season with the Magic. He has stated publicly in recent weeks that his first preference would be to return to Orlando, but it's hard to imagine Magic GM Otis Smith digging even deeper into the luxury tax to retain Barnes and Redick after signing Richardson.
Whether Smith matches Redick's offer sheet or not, the Bulls still have enough money available to make a strong push for Barnes right now. He would be a good complement to Luol Deng off the bench for several reasons. First of all, he's durable after missing only a handful of games over the past four seasons. With Deng's availability uncertain because of health concerns, Barnes would serve as a solid insurance piece.
He plays with a swagger and toughness that would fit well with the attitude the Bulls tried to develop throughout last season. He has the ability to make three-pointers if given enough space, which he should have plenty of by playing with Derrick Rose. Most of all, he is a hard-nosed defender who you could easily see becoming a favorite of new Bulls coach Tom Thibodeau.
Barnes, 30, must realize that this may be his last chance to make some big money and sign a guaranteed contract for multiple years. If the Bulls offered Barnes a three-year deal worth $12-$15 million there's a good chance he would accept considering he hasn't even made $8 million throughout the course of his career, a pittance for an NBA veteran. The three-year deal would also allow the Bulls even more flexibility when superstars such as LeBron James, Dwyane Wade and Chris Bosh could come off the books again in a few years.
If the Bulls landed Barnes and the Magic still decided not to match the offer sheet for Redick, Chicago suddenly would have one of the deepest rosters in the NBA, and they still would have a few million left to spend under the cap. Not bad for a summer's worth of work for Gar Forman and Co., even though they didn't land the splashy free agents in James, Wade and Bosh.