Bulls amnesty Carlos Boozer

The Chicago Bulls have waived forward Carlos Boozer using the amnesty provision to clear cap space to sign Pau Gasol and Nikola Mirotic.

Boozer took to Twitter to thank the organization.

The Bulls informed Boozer of their decision on Tuesday and had until midnight Wednesday to put him on waivers. The Bulls will still owe Boozer the $16.8 million left on his salary this season but it will not count on their salary cap.

Combined with their trade of Anthony Randolph to the Orlando Magic and Greg Smith to the Dallas Mavericks on Tuesday, the Bulls will clear about $13 million in cap space. Gasol is expected to sign a three-year deal worth more than $22 million and Mirotic is expected to sign for $18 million over three years with the Bulls permitted to give him $600,000 to help pay off his buyout from Real Madrid, sources said.

After the Bulls agreed to terms with Gasol and Mirotic, the need for cap space made it clear they would eventually have to amnesty Boozer.

Teams with salary-cap space can bid to acquire Boozer for this season. The bids are blind and the team with the highest bid will be awarded him with the bid amount deducted from what the Bulls will have to pay Boozer.

With numerous teams currently having cap space and Boozer still productive -- he averaged 13.7 points and 8.3 rebounds last season -- it is unlikely he will clear amnesty waivers to become an unrestricted free agent.

Yahoo! Sports first reported Boozer had been informed he would be amnestied.