Tim Thomas was placed on waivers Tuesday by the Bulls. ((Gary Dineen/Getty Images))

The Chicago Bulls confirmed Tuesday that they have agreed on a buyout of Tim Thomas's contract.

Terms were not disclosed, but the journeyman forward was slated to make $6.4 million US next season.

Thomas was put on waivers to make room on the roster for rookie forwards James Johnson and Taj Gibson — selected 16th and 26th overall, respectively, in the NBA draft on June 25.

Thomas played 64 games last season, playing for Los Angeles Clippers, New York Knicks and Bulls.

Chicago acquired him, Jerome James and Anthony Roberson from New York for Larry Hughes on Feb 19.

Thomas, 32, has averaged 11.6 points, 4.1 rebounds and 26.1 minutes in 806 NBA games (407 starts) since he was drafted seventh overall by the New Jersey Nets in 1997.

He also has played for the Philadelphia 76ers, Milwaukee Bucks and Phoenix Suns.

With files from The Associated Press