The Bulls have released a statement discrediting a report by Peter Vecsey that general manager John Paxson would resign shortly after Thursday's trade deadline.

"Pete Vecsey is not a credible enough source to comment on. Two weeks ago he had John being fired. Now he has him resigning," owner Jerry Reinsdorf said.

"I have tremendous confidence in John Paxson," Reinsdorf said in a recent radio interview. "He's really one of the best people that I know. He's a great general manager and a great judge of talent. I just worry that he not be too hard on himself. He takes all of this very, very seriously."