With the start of NBA free agency coming at 11:01 Central time on Thursday, prepare to be bombarded with news about meetings and potential signings.

But when the dust clears sometime in mid-July, don't be surprised if the only free agent transaction involving the Bulls is the re-signing of veteran guard E'Twaun Moore.

The reason for this is two-fold. First, the Bulls really like Moore. General manager Gar Forman praised the former Purdue star during the news conference to introduce top draft pick Denzel Valentine, and head coach Fred Hoiberg is also a big fan of Moore's versatility and toughness. Second, with just about every team in the league having significant cap room, the bidding war for second- and third-tier players could get out of the Bulls’ comfort zone and they might choose to keep their powder dry for a much deeper free agent class next year.

If the Bulls are able to re-sign Moore at a starting salary of somewhere between $8-10 million, don't be surprised if he begins the season as the starting point guard. Moore would definitely be the best defensive option at the position, and his size would allow the Bulls to switch on ball screens, with both guards (Moore and Jimmy Butler) able to defend taller players.

The Bulls do like the potential of former Notre Dame guard Jerian Grant, but at this point in his development a reserve role is probably best for the second year pro. Grant also has the ability to play off the ball at 6-foot-4, giving the Bulls another big guard with Butler and Valentine when Hoiberg wants to go to a small-ball line-up.

 

So, which external players might the Bulls be targeting in free agency? Remember, if they re-sign Moore at a starting salary of $8 million, that leaves them only about $16 million left to spend in what could turn out to be a crazy marketplace.

The Bulls could be looking to upgrade the small forward position, where Mike Dunleavy and Doug McDermott are the likely starting options. Kent Bazemore is an intriguing possibility, coming off his best season in Atlanta where he averaged 11.6 points and 5.1 rebounds while shooting 44 percent from the field. He’s also a tenacious defender with plenty of potential for growth at 27 years old.

But with every team looking to spend big dollars this summer, Bazemore's contract could approach the $20 million mark in Year 1, which might be too rich for the Bulls' taste.

Forman talked about a process of trying to make the roster younger and more athletic, which means the Bulls are unlikely to pursue free agents over the age of 30, unless they come on one year deals.

Several restricted free agent wings could be on the Bulls' radar, including Golden State's Harrison Barnes, who reportedly was seen visiting Chicago on Tuesday. Under normal circumstances, the Warriors would automatically match any offer for their talented young forward, but if Kevin Durant indicates he wants to team up with Steph Curry and Klay Thompson, the front office would willingly sacrifice Barnes and fellow restricted free agent Festus Ezeli, and trade away a veteran contract like Andrew Bogut or Andre Iguodala to create the cap room to make it happen.

You've probably heard about Barnes' connection with the Bulls. He was a high school teammate of Doug McDermott on a state championship team in Ames, Iowa. That's the same high school where Hoiberg starred, eventually picking up the nickname of the "Mayor" after an outstanding college career at Iowa State.

So, even though the Bulls are in the "re-tooling" process, Barnes has to sign an offer sheet somewhere to start the restricted free agent time clock. Why not Chicago?

As a Tier 1 free agent, a max offer to Barnes would start at $22.2 million, meaning the Bulls would have to move another contract (most likely Taj Gibson or Mike Dunleavy), or use the "stretch" provision to release Jose Calderon from the final year on his deal, which would save them about $5 million on next year's cap.

Golden State will have three days to match the offer sheet Barnes signs, which they will most certainly do if Durant stays in Oklahoma City or signs with a different team. But with none of the other contending teams expected to make a play for Barnes, it might be worth the Bulls tying up their cap room for a few days for a chance to acquire a 24-year-old who would fit perfectly in the offense Hoiberg wants to run. And yes, Barnes played poorly in the Finals, but his inclusion on the 12-man Team USA Olympic squad says a lot about what talent evaluators around the league think of his ability.

 

If not Barnes, keep an eye on a pair of Portland restricted free agents. 23-year-old Mo Harkless and 24-year-old Allen Crabbe both fit the profile of players Forman discussed - young and athletic with 3-point range. Portland made a big move in the standings to reach the playoffs last season, and their front office is looking at some of the top centers on the market such as Hassan Whiteside and Al Horford. The Blazers might not be willing to match a significant offer for one of their young wing players.

Other names to watch for the Bulls include restricted free agents Terrence Jones, Dion Waiters, Dwight Powell and Jared Sullinger, along with unrestricted wings like Evan Turner, Eric Gordon, Lance Stephenson, Jeff Green, Wesley Johnson, Solomon Hill, Brandon Bass, O.J. Mayo, P.J. Hairston and Derrick Williams.

The Bulls front office could also decide to just re-sign Moore and save the rest of their cap room for 2017, when the list of free agents includes Curry, Russell Westbrook, Kyle Lowry and Blake Griffin. Forman made it clear the "re-tooling" effort is likely a two-year process, with the Bulls hoping to add a pair of first-round picks next summer and also have enough cap room to be a significant player in free agency.

So, enjoy the whirlwind of information and rumors that will be flooding social media over the next couple weeks. Just don't expect any franchise-transforming moves from the Bulls this summer.