NBA Draft Tracker: Bulls Select F Bobby Portis At No. 22

(CBS) Because of their current contract commitments, the Bulls don't have a great deal of flexibility in this 2015 offseason. That means Thursday night's NBA Draft is one of the best avenues to add a possible contributor for next season, and with the Bulls being one of the oldest teams in the league in 2014-'15, the No. 22 pick they hold has added significance. The Bulls don't hold a second-round pick this season.

The draft is being held at the Barclays Center in Brooklyn and starts at 6:30 p.m. The Bulls are conducting their business at team headquarters the Advocate Center.

That's where David Schumouse and Joe Ostrowski are too, as they'll host 670 The Score's NBA Draft special show this evening. Click here to stream it live. Also follow Cody Westerlund and 670 The Score on Twitter for the latest updates.

Follow along below for live updates and the latest.

11:57 p.m. -- Bulls coach Fred Hoiberg believes Bobby Portis is a quality fit for his up-tempo system that will be implemented.

"First and foremost, he moves very well for a kid that size," Hoiberg said. "He's over 6-10. He runs the floor extremely well, which is very important for the pace we're going to want to play with."

Read the full story here.

11:09 p.m. -- Bulls general manager Gar Forman expressed confidence that the team will retain Jimmy Butler in restricted free agency.

"Jimmy's a huge, huge part of what we're doing and we'll do everything we can and anticipate him being in Chicago," he said.

9:31 p.m. -- Here's the quick story on the Bulls selecting Bobby Portis. General manager Gar Forman and coach Fred Hoiberg will meet with the media later Thursday night to discuss the pick.

9:03 p.m. -- After a run of guards dwindled their backcourt options, the Bulls selected Arkansas forward Bobby Portis at No. 22 overall. Portis is 6-foot-11 and projects as a power forward.

8:51 p.m. -- The Raptors selected Utah point guard Delon Wright at No. 20, yet another backcourt target for the Bulls off the board.

8:49 p.m. -- Several Bulls backcourt options are off the board. Terry Rozier went to the Celtics at No. 16, Rashad Vaughn went to the Bucks at No. 17 and Jerian Grant will reporteldy end up with the Knicks after the Hawks selected him at No. 19.

8:07 p.m. -- One of the Bulls' Central Division foes made the first trade of the night. The Bucks acquired point guard Greivis Vasquez from the Raptors in exchange for the No. 46 overall pick in the second round tonight and a future first-rounder, according to Yahoo Sports' Adrian Wojnarowski.

8:03 p.m. -- Kentucky has placed four players in the lottery now, as guard Devin Booker went to the Suns at No. 13. Wildcats coach John Calipari took his opportunity to sell the program during an interview on ESPN.

7:56 p.m. -- Kentucky has now put three players in the top 12 after power forward Trey Lyles went No. 12 to the Jazz. Guard Devin Booker is expected to be selected soon as well.

7:38 p.m. -- The Hornets selected Benet product and Wisconsin center Frank Kaminsky at No. 9 overall. Kaminsky used to watch Bulls' practices and from the sidelines as a youngster, and now he'll play for the most famous of them all, Michael Jordan, who owns owns the Hornets.

"I've very grateful for the opportunity," Kaminsky told the ESPN broadcast.

Nickname "Frank the Tank," Kaminsky dressed appropriately.

7:29 p.m. -- The Pistons took Arizona forward Stanley Johnson over Duke forward Justice Winslow, the latter of whom is regarded as a more polished player, especially on offense.

7:27 p.m. -- Duke forward Justice Winslow falling in the draft is perplexing many, including 670 The Score co-host Jason Goff.

7:24 p.m. -- Perhaps the surprise of the night? No trade in the draft nearly an hour in. Philadelphia is apparently intent on keeping Jahlil Okafor after picking him at No. 3. But the Hornets are in the market to move their No. 9 pick, according to reports, so a deal could come soon.

7:02 p.m. -- Knicks fans at the draft in Brooklyn didn't take well to the team selecting Latvian 7-footer Kristaps Porzingis at No. 4. His potential is sky high, according to scouts, but he's not well-known and some question how he'll adapt to the NBA. He's also viewed as being several years away from being a solid contributor.

[tweet https://twitter.com/BenGolliver/status/614222095468376064]

Like, the Knicks fans really didn't take it well.

6:54 p.m. -- Despite having a stockpile of big men, the 76ers took Duke big man Jahlil Okafor at No. 3 -- and plan to keep him, according to Yahoo Sports' Adrian Wojnarowski. Okafor becomes the fifth Chicago product in the last eight years to go in the top three of the draft, joining Derrick Rose, Evan Turner, Anthony Davis and Jabari Parker.

"I'm so proud of him," Okafor's father, Chucky, told ESPN on the draft broadcast.

6:43 p.m. -- The intrigue began at No. 2, where the Lakers passed on Jahlil Okafor to take Ohio State guard D'Angelo Russell.

6:37 p.m. -- The first pick came as no surprise: Minnesota took Kentucky big man Karl-Anthony Towns. He's the third Kentucky player in the past six years to go No. 1 overall, along with John Wall (2010) and Anthony Davis (2012).

6:27 p.m. -- Two Chicago-area products are expected to be drafted in the top 10: big men Jahlil Okafor (Whitney Young) and Frank Kaminsky (Benet). Okafor could go as high as No. 2 to the Lakers. It now sounds like Kaminsky won't drop past the Hornets at No. 9.

5:52 p.m. -- Here's a look at Chris Emma's mock draft and a primer on some of the players whom Chicago is considering.

2015 NBA Draft 1st Round

1. Timberwolves -- Karl-Anthony Towns, C/PF, Kentucky
2. Lakers -- D'Angelo Russell, G, Ohio State
3. 76ers -- Jahlil Okafor, C, Duke
4. Knicks -- Kristaps Porzingis, F, Latvia
5. Magic -- Mario Hezonja, G, Croatia
6. Kings -- Willie Cauley-Stein, C, Kentucky
7. Nuggets -- Emmanuel Mudiay, G, Dallas, TX/China
8. Pistons -- Stanley Johnson, SF, Arizona
9. Hornets -- Frank Kaminsky, C, Wisconsin
10. Heat -- Justice Winslow, F, Duke
11. Pacers -- Myles Turner, C, Texas
12. Jazz -- Trey Lyles, PF, Kentucky
13. Suns -- Devin Booker, G, Kentucky
14. Thunder -- Cameron Payne, PG, Murray St.
15. Wizards -- Kelly Oubre Jr., SF, Kansas (pick acquired from Hawks)
16. Celtics -- Terry Rozier, PG, Louisville
17. Bucks -- Rashad Vaughn, SG, UNLV
18. Rockets -- Sam Dekker, SF, Wisconsin
19. Hawks -- Jerian Grant, G, Notre Dame (traded to Knicks)
20. Raptors -- Delon Wright, PG, Utah
21. Mavericks -- Justin Anderson, SF, Virgina
22. Bulls -- Bobby Portis, PF, Arkansas
23. Blazers -- Rondae Hollis-Jefferson, SF, Arizona
24. Cavaliers -- Tyus Jones, PG, Duke (traded to Timberwolves)
25. Grizzlies -- Jarrell Martin, F, LSU
26. Spurs -- Nikola Milutinov, C, Serbia
27. Lakers -- Larry Nance Jr., PF, Wyoming
28. Celtics -- R.J. Hunter, SG, Georgia State
29. Nets -- Chris McCullough, PF, Syracuse
30. Warriors -- Kevon Looney, PF, UCLA

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• NBA Draft