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Payne was released by the Bulls on Thursday, Adrian Wojnarowski of ESPN reports.

Payne will hit the open market to make room on the roster for the acquisitions of Wayne Selden and MarShon Brooks from Memphis. Payne has struggled to see much playing time of late, averaging 3.8 points, 1.2 rebounds and 2.2 assists over 12.8 minutes per contest (five games), so he'll search to make an impact elsewhere after getting the boot.

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