Bulls waive center Andrew Bynum following trade

The Chicago Bulls announced today that the team has waived center Andrew Bynum.

Earlier today, Bynum’s contract was conveyed to the Bulls, along with multiple draft picks from the Cleveland Cavaliers in exchange for the contract of Luol Deng.

Chicago’s roster now stands at 12.

By waiving Bynum this week, Chicago avoids paying him $6.3 million, the remaining non-guaranteed portion of his contract, and moves below the luxury-tax line.