Reported by French publication L'Equipe, translated by the good folks at Ball in Europe:

I'm absolutely not ready, not ready to run, not ready to jump. And even less to play. I need more time and work. I'm not in form for someone who wants to compete in the Olympics. And given the problems that I have with my ankles, not going to the Games seemed to be the most reasonable decision.

If you (understandably) purged it from your memory, Noah hurt his ankle in the playoffs two months ago. You may remember it as a spectacularly gruesome sprain, and ALSO remember that Thibs put him back in that very same game even though it was clear he couldn't run. Then spent the next week not officially ruling him out for the series (LOL!).

It may be Noah being extremely cautious, but you'd have to think he wanted to play in these games, so perhaps not. Two months for an ankle sprain, saying he's as far off as he is, that's kinda worrisome. I wonder if we'll hear stories in training camp about Noah's conditioning being off, too.

Mike McGraw even went this far:

I'd think Noah's ankle problems are another reason why Bulls are likely to match Asik offer.

Well I hope that's not a reason, because if so it should also be a reason the Bulls try and use Noah to trump offers for a Dwight Howard rental (to own).