Today is the last opportunity for the Bulls to pull the qualifying offer on Aaron Gray and sign any other player. If they do not pull the qualifying offer then Aaron will most likely accept it as there's little money around the league and the odds of him getting more than the minimum or a multiple year contract are low.
He could flee for slightly less money to a situation that offers more playing time, but quite frankly, Aaron Gray is unlikely to log much playing time anywhere else either, and if I'm Aaron Gray I'm maximizing my salary every year in the league because it's likely there won't be more than a few more of them.
So I view it as a given that Aaron Gray eventually accepts the QO if the Bulls do not pull it today which begs the question, would you rather have Aaron Gray or anyone else available on a min level deal?
The options out there aren't great. I'd be interested in making a play for Drew Gooden, Joe Smith, Leon Powe, Rasho Nesterovic, or Ike Diogu over Gray. Will one of these guys get forced to take the minimum? Probably. If not, Aaron Gray isn't likely to drum up much interest around the league. He's probably available for a minimum contract later anyway.
On top of that, the Bulls save about 200k of salary towards another move later on in the year. Given the Bulls were less than 200k from the tax last year and should be butting right up against it this year, that money has the potential to be valuable if trying to complete a trade deadline move later on while staying under the luxury tax.
Keeping Aaron Gray isn't a problem, but it makes little sense to do so at a salary over the league minimum given the players who might be available at that price.