Updated

Chicago, IL (SportsNetwork.com) - The Chicago Bulls signed guard Jimmer Fredette on Sunday.

Fredette reached a buyout agreement with the Sacramento Kings earlier this week and has joined Chicago after clearing waivers.

"We are very excited to add a player like Jimmer to our roster," Chicago general manager Gar Forman said in a statement. "We've followed him closely throughout his collegiate and professional career, and believe he'll be the type of player that will fit in with our group and be an asset to the team."

The former BYU standout averaged 5.9 points in 41 games off the bench this season for the Kings.

Fredette, the No. 10 overall pick in 2011, averaged 7.0 points and 1.5 assists in 171 games over two-plus seasons with Sacramento.