According to ESPN's Marc Stein, the Bulls have reached an agreement to bring back Aaron Brooks.
The available free agent point guards were pretty bad, and getting worse by the hour. Technically Brooks is better than a lot of those options. He's also not really a fix for the role of a primary backup to Derrick Rose, but he can soak up minutes adequately when that opportunity will undoubtedly be made available in light of a Rose or Kirk Hinrich injury this season.
Brooks started out insanely hot to begin last year, and though cooling off a bit finished with a second consecutive season of hitting over 38% of threes at a high volume.
Continuity isn't so bad. Though there's also something to be said for trying something different, and Brooks was not only part of a longstanding Bulls tradition of miniature guards putting up big numbers, he was also part of another tradition in those players not being counted on in the playoffs. Brooks was miserable to the point of unplayable in his 12 playoff games, where his TS% dipped to 42%. There's also question as to whether he fits this purportedly-different Hoiberg offense, as he's more of a ball-stopper with tunnel vision as opposed to fitting well in a free-flowing ball movement system. He presumably will do pretty decently getting up quick shots in transition, and I don't mean that as a bad thing.
What's good news with this signing is that it doesn't necessarily indicate the Bulls are done. Brooks signed at the minimum salary, so the Taxpayer-MLE is still available. Though as stated previously here I'm skeptical they want to add another $3m+ player given their status straddling the Luxury Tax. The Bulls roster technically stands at 14, which is typically as high as they go, although both E'Twaun Moore and Cameron Bairstow have non-guaranteed contracts.