Marc Stein with the breaking news:

The Chicago Bulls have invited veteran center Kyrylo Fesenko to training camp on a non-guaranteed contract, according to sources close to the situation.

Sources told ESPN.com that Fesenko is on course to sign with the Bulls by week's end after working out for team officials this week.

Stein acknowledged the Bulls cap situation on Twitter:

Bulls been looking for proven big willing to take non-guaranteed deal now & possibly re-sign in late NOV when tax issues ease. Fes says yes

— Marc Stein (@ESPNSteinLine) September 27, 2012

Indeed, the Bulls cannot add Fesenko to the roster until his prorated amount is lower than what's allowed under the luxury tax apron, a figure the Bulls cannot exceed under any circumstances all season. Though they can obviously make moves to get further under like waiving Nate Robinson or making a money-saving trade. At first glance, I like this as a project signing. Usually the Bulls use these spots for 'Org. guys' who are past their last legs, so it's nice to see someone with some upside. Even if it's dwindling after 5 seasons failing to really prove himself, and his career at a low point after appearing in only 3 games last season. Also, someone who can provide a few laughs if you've ever read Fesenko Friday at SLCDunk.