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When the Bulls signed Kirk Hinrich to a portion of the midlevel exception and Marco Belinelli to the biannual exception, they put themselves in a hard-cap situation of $74.307 million. Thus, negotiations with Teague focused on a first-year salary of less than 120 percent, sources said.

Teague ultimately signed a deal for 100 percent of his slotted salary in the first year, or $857,000, sources said. The following years are expected to be at the 120 percent slotted salary.

The Bulls will now have 13 players under contract. However, with just $758,550 under the hard-cap figure, they do not have enough money to sign a player to the veteran's minimum of $857,000. The Bulls will be paying the luxury tax for the first time in franchise history.

http://www.chicagotribune.com/sports/breaking/chinews-first-round-pick-teague-sign-20120807,0,1528011.story

Can't help but feel like we're being cheap on this one, especially when we are one of the most profitable teams in the Association.

If thats what the pick was slotted at then thats what he should have got.

Except that isn't how teams actually do it

Depends...just giving everyone 120% of the "slotted amount" means that the real slotted amount is 120% of whatever is on paper.

How many times has a player been given less than 120%?

Whats the point of a price slot if teams aren't gonna use it?

Whats the point of a price slot if teams aren't gonna use it?