They brought in a new influx of talent in Carlos Boozer, C.J. Watson, Ronnie Brewer, Kyle Korver and watched the blossoming of Derrick Rose into a certified superstar.
But that being said, this team relied far too heavily on Derrick Rose. While he rarely let them down, it's a miracle they got as far as they did without a legitimate shooting guard and very little help for him. Their biggest need this offseason will be to find a shooting guard to fill that void. But with nothing much coming off the books, it'll be hard for the Bulls to make moves
Outside of the need for a ginger on the team, I don't suspect the BulOMls to bring anyone back, leaving them with about $3.4 million free, but Noah will have a 7 million dollar pay raise. Therefore, the team won't have a lot of cap room.
(Note: All trades were created in NBA Trade Machine and work financially
Bulls get - Rip Hamilton
Pistons get - Kyle Korver, Omer Asik, C.J. Watson
I can't imagine the Bulls don't at least inquire about Rip Hamilton. By all accounts, he'll be available and no team is in more need for a shooting guard than the Bulls. They won't be giving a lot up as Korver was nothing more than a 3-point shooter and Asik and Watson are replacable.
If the Bulls can get Hamilton, I'd consider them the favorites for the title next year
Bulls get - Monta Ellis, #44 pick
Warriors get - Kyle Korver, Taj Gibson, Ronnie Brewer, #28 and #30 pick
It'd take a lot to get Ellis and I'd suspect some picks would be involved here, but this might be an even better trade than the Hamilton one. Although I haven't heard his name mentioned in connection with the Bulls, I would be surprised if they didn't at least call about him.
Ellis gives them a prolific scorer and can even be a ball-handler to take the pressure off Rose. This might be their best-case scenario for the off-season
Bulls get - Ray Allen
Celtics get - Kyle Korver, Ronnie Brewer, Omer Asik, #28 pick
I realize I'm regurgitating the same players, but these are about the only tradable assets the team has. If they can get Ray Allen and give them some youth, it'd be perfect for them. He's the veteran who can come in and make the big play that the team had to rely so much on Rose for this season
Jason Richardson - He's going to ask for more than I think the Bulls can afford, but if he's willing to take a pay cut, this team would become a great team. They are a SG like this away from a title.
Michael Redd - A lot riskier pick, but maybe a lot more realistic pick. He won't have many contract offers, so he won't have a high contract. If he can provide them a solid scorer for a low amount of money, it's the ultimate win-win for the Bulls
Shannon Brown - If he doesn't exercise his option with the Lakers, I'd expect the Bulls to go after him. He showed huge signs of improvement this year. Although his stats say otherwise, he came out on fire and showed he can be a big time scorer. Wouldn't a backcourt of Brown and Rose be super exciting?
Tracy McGrady - Another risky pick, but he's proven he can play more than Redd. He played 23 minutes a game this year and I don't think the Bulls would need him to play much more than that. With Korver, Watson, and Brewer behind him, he'd just need to be the late-game guard
28th pick - Nolan Smith, PG/SG, Duke - Surprise, surprise. The Blue Devils guard can give them some scoring and some PG help both. His one question would be his range, but he improved greatly over his last 2 years
30th pick - Chandler Parsons, SF, Florida - The one need outside of a shooting guard would be a backup small forward. Enter Parsons. He's incredibly underrated and his size (6'10, 221 lbs) gives him a big advantage at the SF spot.
43rd pick - David Lighty, F/G, Ohio State - Another guard/forward combo to help their shooting guard and back up small forward issue. If they can get him this late, it'd be a great pick
The Bulls need to make a move to get a shooting guard, no matter it be a trade, free agency, or the draft. But they have a glaring weakness at the position and until they address it, they won't be a Finals team, let alone a championship team. If I had to guess, I would say free agency might be the best place for them to get their shooting guard, but I'm not an expert