The Chicago Bulls refuse to call the current state of the team a "rebuild."

The Bulls traded away Luol Deng in a deal that saved money and allowed the team to acquire multiple draft assets. Unless the Bulls become players in free agency with cap space, it is difficult to envision the team being in as good of a position to compete for a title next season.

“It’s always difficult,’’ Gar ­Forman said of the decision to send Deng to the Cleveland Cavaliers. “There’s a human element to any transition you make.

“I’ve heard people say it’s a ­rebuild. It’s not a rebuild. I consider it more of a retooling.’’

The Bulls will be able to avoid the repeater tax due to their move for Andrew Bynum.

“By getting out of the tax this year, it will give us the ability to go back into the tax in future years when we feel we have a team that’s capable or continuing to build towards that championship,’’ Forman said.