The Bulls can take bad dead weight (and honestly should be trying to take back dead weight as much as possible for additional assets). They have 43 million in guaranteed contracts next year w/ only LaVine to sign (IDK what his cap hold is, but I'm assuming he gets between 20-25 million).Until he accepts a trade to a contender, it's pretty moot. Also, if he likes that 12.5 million, going to a contender is probably a bad idea.
Then again, maybe he's positive that he's worth more than that (at which point, he won't make more because it's a team option and it will be exercised).
But again, what contender has that salary to trade that isn't trying to dump dead weight in the deal (and thus, raising what they have to send out?).