Bulls land Pargo

As the Chicago Bulls try to compensate for the offensive loss of Ben Gordon(notes), they have agreed with free agent guard Jannero Pargo(notes) on a one-year deal worth approximately $2 million, a league source said Wednesday afternoon.

Pargo played three seasons for the Bulls (2003-’06) before moving on to New Orleans in 2007-08. He signed a $3.8 million deal with Moscow Dynamo last summer, but played only part of the season in Russia before the franchise’s financial woes caused them to buy out his contract. Pargo finished the season with Olympiakos of Greece.

Pargo averaged eight points a game for the Hornets two years ago as Chris Paul’s(notes) backup.

The Bulls are trying to replace some of the scoring load lost with Gordon departing for a $55 million deal with the Detroit Pistons.