The Bulls on Tuesday officially will announce they have declined to match Omer Asik’s three-year, $25.1 million offer sheet from the Rockets, sources said, paving the way for multiple signings that began Monday with Kirk Hinrich.

The Tribune reported on July 8 that Hinrich verbally agreed to a two-year deal, but it’s closer to $8 million in value, sources said. Hinrich, who will be reintroduced at a 2 p.m. Berto Center news conference on Tuesday, turned down slightly more money from the Bucks, sources said…

The Bulls will add another shooting guard as well, with the imminent signing of Marco Belinelli for the biannual exception of $1.9 million. Belinelli flew to Chicago on Monday for a physical, sources said, and La Gazzetta dello Sport reported that Belinelli’s deal will be two years for $3.8 million, with the second year a team option.

– Reported by K.C. Johnson of theĀ Chicago Tribune