Bulls waive Carmelo Anthony, clearing way for 10-time All-Star's free agency

Should the Lakers sign Melo? (1:28)

After the Bulls waived Carmelo Anthony, Michael Wilbon and Rachel Nichols discuss whether it would be smart for the Lakers to consider adding him to the roster. (1:28)

The Chicago Bulls have waived forward Carmelo Anthony, clearing the way for the 10-time All-Star to become a free agent.

Anthony was never asked to report to the Bulls, who acquired him Jan. 22 from the Houston Rockets in a financial maneuver.

The move is part of the franchise's original plan with Anthony, which will allow him to monitor the post-trade deadline roster flux to find his next destination.

The Lakers remain a possibility to sign Anthony, but that wouldn't happen until they use their current roster to exhaust trade deadline efforts to acquire New Orleans star Anthony Davis. The Lakers would need to create an open roster spot to sign Anthony, who is a favorite of LeBron James'.

The Bulls needed a roster spot to acquire Oklahoma City's Timothe Luwawu-Cabarrot and cash in a deal as a part of a Thunder money dump, sources said.

Oklahoma City will save $7.3 million toward its luxury tax bill with the unloading of Luwawu-Cabarrot to the Bulls. The Thunder's tax bill drops to $66 million.

ESPN's Bobby Marks contributed to this report.