Source: Chicago Tribune

The Bulls on Tuesday officially will announce they have declined to match Omer Asik's three-year, $25.1 million offer sheet from the Rockets, sources said, paving the way for multiple signings that began Monday with Kirk Hinrich.

The Tribune reported on July 8 that Hinrich verbally agreed to a two-year deal, but it's closer to $8 million in value, sources said. Hinrich, who will be reintroduced at a 2 p.m. Berto Center news conference on Tuesday, turned down slightly more money from the Bucks, sources said.

"There were other teams in the picture, however my heart and gut told me that Chicago was the right decision for my basketball career and my family," Hinrich said in a text message. "I'm excited for the opportunity and challenge."

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