The Bulls still stand a good chance of getting either LeBron James or Dwyane Wade, but there's a chance - a bigger chance than most people in Chicago probably realize at the moment - that they don't land any of the top free agents.
There are reports circulating today that the Toronto Raptors would be interested in working out a sign-and-trade for Chris Bosh with the Cleveland Cavaliers. That's right, the Cavaliers.
If Cleveland can land Bosh, the chances of James staying with his hometown team improves. That could be the kind of bold move that would convince James Cavs management is serious everything necessary to win a championship.
Of course, Bosh would have to agree to sign with Cleveland. James has approached Bosh about playing with the Cavaliers in the past and the offer wasn't met with great enthusiasm. Still, Cleveland may be Bosh's option to earn a six-year maximum contract.
So if Bosh and James end up in Cleveland and Wade re-signs with the Miami Heat, where do the Bulls turn? Good question.
Amare Stoudemire has signed with the New York Knicks and Joe Johnson returned to the Atlanta Hawks. That leaves the Bulls to pick between power forwards Carlos Boozer and David Lee.
After signing either Boozer or Lee, the Bulls probably would still have enough salary cap space for a maximum contract, but there would be no players worthy of that kind of deal still on the board. The Bulls, though, could use the money to sign shooting guard Ray Allen and then use the rest to re-sign a couple of their own free agents like center Brad Miller, guard Acie Law and maybe even Flip Murray.
Although that's not the major splash everyone has been dreaming of for the last two months, the Bulls would be better.