We had an inkling of this over the weekend, and today word comes down that it’s official: Jannero Pargo — he of Russian and Greek basketball fame last season — is back in America playing for the Chicago Bulls.

The particulars are what you’d expect for a player of his caliber: it’s a one-year deal worth around $2 million. This is a signing filled with little splash. With Pargo, you know what you’re getting; he’s a guy that can play both guard positions — it seems clear now he’s been brought in to to fill both, my point guard hopeful theory seems bunk — and can occasionally score in bursts.  He’s nothing special, he’s nothing that’s going to come close to filling Ben Gordon’s role.

There were other guys the Bulls could have gone after of higher talent, but they’re riding pretty close the luxury tax line, and again, all signs point to the team swinging for the fences in the summer of 2010’s stacked free agency class.

This is but a band-aid on a rather large wound, one that won’t fully heal until the Bulls pursue a player of serious talent, either at the trade deadline or via free agency next summer.

According to a report from Adrian Wojnarowski of Yahoo!, it’s a possibility. Gar Forman met with Pargo on Saturday — maybe they grilled out and held sparklers together? — and Pargo’s agent told Woj it was a “great meeting.” Nothing against Pargo, but he’s not going to replace Ben Gordon’s 20.7 points a game; he didn’t even play in the NBA last year, he played in Russia, then Greece.

But you know what? Though Woj indicates the Bulls are looking to replace Ben Gordon’s scoring, I wonder if that’s not what they’re trying to do here. At least I hope that’s not what they’re trying to do here. Pargo is a point guard, and with Lindsey Hunter now a free agent, Kirk Hinrich likely switching over to more of a shooting guard role instead of Rose’s primary backup, Hunter slides in to fill that point guard backup role. Right? Hopefully right.

A few other things here: the Bulls know they need another guard capable of giving them some minutes because again, after Derrick Rose and Kirk Hinrich, it gets real dicey. (I’m counting John Salmons as a small forward.) Pargo has been serviceable for the Bulls before, so maybe they’re hoping for that again? (Hey, it worked for the Sox with Scott Podsednik!)

Nothing here is final — Woj says they were talking details Sunday, but as of this posting no deal has been announced — but if something were to become official, this serves as another cost-cutting measure for the Bulls. Out goes what would have been Gordon’s $50-55 million contract, and in comes Pargo for far less money … and talent.

This sets the Bulls up for the great free agency boom of 2010, which last year’s moves at the trade deadline seemed to be aiming. If you were hoping the Bulls would go out and get a legit scorer at guard (hey, Allen Iverson is available), early indications are they’re not. Sorry kids.

We all know Bulls guard Ben Gordon is a wee bit upset with the Bulls. (He’s gone as far as saying he’ll never wear a Chicago uniform again.)

But dang: I didn’t expect him to join the growing trend of American-born ballers in giving the middle finger to the league and finding equal — and oftentimes more — pay overseas. (Though I suppose when there aren’t a ton of other NBA teams clamoring for your services, one might have to go this route.)

The report, first found state side by Da Bullz, comes for a Greek Web site. Here is how Da Bullz sees it:

Greek news sources are reporting that Ben Gordon has been offered a $5.5 million contract with CSKA Moscow. That contract is the equivalent to an $8.9 million contract in the NBA, as European teams deal in net. Gordon is said to be demanding at least $7 million from CSKA Moscow, which would be the same amount that Josh Childress is making. That deal would be the equivalent of an $11.3 million NBA contract, and would provide Gordon great incentive to leave the NBA for Russia.

…

The article says that Gordon will make his decision by Wednesday.  This likely is just when Gordon will decide if he is going overseas or not.  There is no indication that if Gordon turns down CSKA Moscow’s offer, that he will make a decision on what to do with the Bulls at the same time.

This is by no means a done deal. For now, the Daily Herald is reporting both Gordon and his agent are keeping a tight lip on this report and his future. However, if the money is good, the team is top-notch as reported and Gordon isn’t getting a lot of interest or as much scrilla here in the NBA, this certainly seems like a viable option for the guy.

Plus, he can always chill with Jannero Pargo.

{HT: Blog a Bull.}