Source: Nazr Mohammed, Bulls close

Updated: July 22, 2012, 7:08 PM ET
By Nick Friedell | ESPNChicago.com

CHICAGO -- Omer Asik's days with the Chicago Bulls appear to be over.

While the organization still hasn't seen the offer sheet Asik has reportedly signed with the Houston Rockets, it seems they have decided to move on without him. A league source confirmed late Saturday night that the Bulls are on the verge of signing veteran center Nazr Mohammed.

While the deal hasn't become official yet, the New York Post reported early Sunday that Mohammed has decided to sign with the Bulls over the Brooklyn Nets and both teams have been notified about the decision.

Mohammed's addition almost certainly means that the Bulls will not match the three year, $25.1 million dollar offer sheet the Rockets gave Asik. The deal that the Rockets structured would have meant the Bulls would have been on the hook for an almost $15 million cap hit in the final year of the contract. The Bulls decided they did not want to take that type of financial hit given their current cap situation. Mohammed will likely be signed for the veteran's minimum.

Asik's departure would mean that forward Taj Gibson would be the final member of the Bulls' valued bench that remains on the team. Kyle Korver was dealt to the Atlanta Hawks last week for a trade exception. C.J. Watson's $3.2 million dollar option was not picked up and veteran swingman Ronnie Brewer was told the Bulls would not bring him back at his current salary of over $4 million. ESPN.com's Marc Stein reported earlier in the week that John Lucas III was close to a deal with the Toronto Raptors. While Brewer still remains an option at a reduced salary, his return is questionable at best.

The Bulls signed veteran Vladimir Radmanovic earlier this week and will look to fill out the rest of the roster with minimum salaried players because of their reluctance to go deep into the luxury tax.

Mohammed, a 14-year veteran, is a Chicago native. He averaged three points and three rebounds a game last season for the Oklahoma City Thunder.

Nick Friedell | email

Chicago Bulls beat reporter
Nick Friedell is the Chicago Bulls beat reporter for ESPN Chicago. Friedell is a graduate of the S.I. Newhouse School of Public Communications at Syracuse University and joined ESPNChicago.com for its launch in April 2009.

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