After four injury-filled seasons with the Milwaukee Bucks, former No. 2 overall pick Jabari Parker will have a fresh start with his hometown team of Chicago Bulls.

According to Adrian Wojnarowski of ESPN, Parker signed a two-year deal with the Bulls worth $40 million. Wojnarowski reported that the second year of the deal is a team option, according to his sources. The deal will return Parker to Chicago, where he emerged as No. 1 recruit in America out of Simeon High School in 2013.

The signing materialized after Jon Horst, Bucks general manager, agreed to remove the team's qualifying offer for Parker, allowing him to hit the market as an unrestricted free agent. The Bucks were not planning to match any offer sheet that Parker will receive from the Bulls.

The team option in the contract will give the Bulls a level of protection as Parker suffered two ACL injuries during his stint with the Bucks. The deal will also give the Bulls a chance to sign Parker to a long-term deal if he remains healthy and productive next season.

In a corresponding move, the Bulls released guard Julyan Stone and forward Paul Zipser in order to create the needed $20-million salary cap room to sign Parker.

Bucks Grateful For Parker's Services

"Jabari and I felt it was in the best interest of both he and the team to rescind our qualifying offer, making him an unrestricted free agent," Bucks general manager Jon Horst says.

Horst also thanked Parker for his contribution to the team and to the community in his four years in Milwaukee, where he played just 183 games for the Bucks over his four-year career.

In a statement, Parker expressed his gratitude to the Bucks organization and their fans for showing him so much love and encouragement in his four years with the squad.

Parker also thanked the Bucks' medical and performance staff, spearheaded by Troy Flanagan and Suki Hobson, for their dedication in helping him become stronger and healthier every day.

Parker No. 2 Overall Pick In 2014

The Bucks selected Parker No. 2 overall in 2014 out of Duke, behind Andrew Wiggins, who was selected 1st overall by the Cleveland Cavaliers. However, Parker played just 25 games in his rookie year after he suffered a season-ending ACL injury. During that span, he averaged 12.3 points and 5.5 boards.

In the 2015-16 season, Parker played 76 games averaging 14.1 points and 5.2 boards. The following year, Parker was playing his best basketball as he averaged 20.1 points and 6.2 boards in his first 51 games, but he suffered his second injury that cut his season short.

Last season, Parker played 31 games for the Bucks, averaging 12.6 points and 4.9 boards. However, he just had three starts in the regular seasons and was used off the bench in the playoffs.

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