The Chicago Bulls have rescinded their qualifying offer to David Nwaba.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.
David Aldridge reports Nwaba has received interest from the San Antonio Spurs and Los Angeles Lakers. Nwaba could also re-sign with the Bulls.