James has been injured, so the Bulls have been using Marquise Teague and recently signed D.J. Augustin as backup point guards. James’ role, one he no longer filled particular well anymore, had been usurped.
This brings the Bulls down to 13 players, the league minimum. So, maybe this means more moves are ahead (signing someone else, a trade that bring back more players). Or maybe Chicago is just trying to save money. (James’ contract was fully unguaranteed.)
The answer probably depends on how well the 9-13 Bulls play in the short term. If they continue struggling and decide to unload assets to rebuild, there’s no reason to spend the extra few hundred thousand dollars on a 14th man. If they start playing better, they can always sign another player later.
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As for James, this could spell the end of his NBA career. At 38, his athleticism might have finally waned to the point he can longer get by with his veteran savvy.
But a few teams – Lakers, Knicks and Nets come to mind – might want another point guard. So, there’s at least a chance James finds a suitor.