Extremely minor salary cap note today, but that's what Mark Deeks specializes in!
When waiving Rip Hamilton earlier this summer, the Bulls not only were able to pay the remaining $1m of the buyout over 3 years, they elected to spread out that amount over their cap as well. This is referred to as the 'stretch provision' and was a new element of the 2011 CBA (which Rip was signed under).
For the Bulls, that means that instead of a $1m cap figure for Rip in 2013-14, that number is now evenly spread out over the next three years.
It's a very small amount, obviously, but what it shows is that while the Bulls trumpet 'flexibility', in some cases they'll sacrifice it for cash. As a tax team this year they just lowered their bill at the (small) expense of the 2014 plan.
[UPDATE by your friendly BullsBlogger, 09/06/13 8:22 AM CDT: Bulls Confidential gives an update on that 2014 plan here. It's pretty sobering. ]