Jul 14, 2009 10:59 AM EST

Bulls.com columnist Sam Smith is reporting that Chicago reached a buyout with forward Tim Thomas, which allowed them to find the money to sign guard Jannero Pargo.

According to Smith, Pargo had some two-year offers, one believed from Dallas, but liked the idea of getting more time with Ben Gordon departed and going into free agency next summer as well.

Via bulls.com