CHICAGO -- The Chicago Bulls are re-signing guard John Lucas III, while talks on whether to bring back fellow guard Jannero Pargo are ongoing, according to sources with knowledge of the team's thinking.
Lucas will be added for backcourt depth in time for Sunday's practice but is unlikely to see meaningful minutes after appearing in just two games in his first stint with the team this season, one source said.
The Chicago Tribune first reported Lucas' imminent signing Saturday.
The Bulls administered physicals this week to both Lucas and Pargo, who has been trying to come back from a knee injury that scuttled his attempt to play earlier this season with the New Orleans Hornets, sources said.
Lucas signed with the Bulls on Nov. 26 after being cut in training camp, then was waived Jan. 4 before his contract became guaranteed for the rest of the season.
Without addressing the Chicago-born Pargo specifically, one source close to the situation confirmed that the Bulls were likely to sign another player as injury insurance and for depth in practices.
Marc Stein is a senior NBA writer for ESPN.com.