Bulls closing in on a deal with Bucks' free agent Jabari Parker

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Parker became a legend in Chicago at Simeon Career Academy, becoming the second player in state history to start for four state championship teams.

Parker, 23, was a restricted free-agent before the Bucks rescinded their rights to his contract, making him an unrestricted free-agent.

The forward was selected with the second overall pick by the Bucks in the 2014 NBA Draft, but has largely been ineffective for the team due to injuries.

On Saturday, the Bucks announced that they've rescinded their qualifying offer and renounced his rights, paving the way for his next move.

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As reported by ESPN, Jabari Parker has been signed by the Chicago Bulls to a two-year $40 million contract. Parker played in just 31 games previous year. The 6-foot-11 center started last season with Cleveland but was traded to the Los Angeles Lakers on February 8 as part of a deal that sent Jordan Clarkson and Larry Nance Jr.to the Cavaliers. Parker, a Chicago native, will be heading back to his hometown to continue his career.

Bartelstein praised the Bucks for "working side-by-side with us". That will be a problem on the Bulls, who already have talented big-men in Lauri Markkanen, Wendell Carter Jr., and Bobby Portis.

The former Pistons standout was back in the Detroit area Friday night as part of the BIG3 - entertainer Ice Cube's 3-on-3 league of former National Basketball Association players, which made a stop at Little Caesars Arena. Valentine has averaged 8.0 points and 4.1 rebounds per game during his career and is a bit undersized since he's playing out of position; he's a more natural shooting guard.

The Bulls plan to use Parker largely as a small forward.

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