The Chicago Bulls have rescinded their qualifying offer to David Nwaba.
Nwaba will become an unrestricted free agent.
The Bulls are on the cusp of either signing a wing or absorbing a bad contract with an asset attached.
The Bulls now have 12 guaranteed contracts, a non-guaranteed Paul Zipser deal that will be waived and a qualifying offer to Ryan Arcidiacono to make them restricted free agents.
Nwaba averaged 7.9 points and 4.7 rebounds in 70 games last season, including 21 starts.
