The Bulls will officially decline to match Omer Asik's three-year, $25.1 million offer sheet from the Rockets, according to a report.

Asik’s departure will clear the way for Chicago to sign Kirk Hinrich, who is expected to start at point guard while Derrick Rose recovers from knee surgery.

Both Marco Belinelli and Nazr Mohammed are expected to sign short-term deals with the Bulls this week.