The Chicago Bulls and guard Jimmy Butler failed to agree on a contract extension this season, meaning Butler will become a restricted free agent in July. Although Butler purportedly wants to stay, a report from Basketball Insiders' Alex Kennedy indicates the Bulls owner Jerry Reinsdorf's reputation for being cheap with contracts could lead to Butler walking in free agency.
Butler gambled on himself this season and won. He declined the safety of signing a contract extension, believing himself to be worth more than whatever Chicago purportedly offered him, and is now in the middle of a breakout season. His defense has never been questioned, but his overall value increased this season by him proving he can be a two-way player. After bumping up his scoring average from 13.1 points last season to 20.5 points this season, there'll be a market willing to pay big for him in July.
All signs point to Butler and the Bulls wanting to stay together, but the price tag he will command as a restricted free agent could spell the end for him in Chicago.
Per Kennedy:
"I do think he'll stay with the Bulls, but I think it's less of a guarantee than (Kawhi Leonard staying with the San Antonio Spurs). By not extending Butler, he now will go out and get an offer sheet that is just brutal for Chicago - much like Chandler Parsons did with Dallas. Any team that extends an offer sheet is going to strategically structure it so that they make the Bulls hesitate about matching. That means it'll be a max deal, with player options, trade kickers and other player-friendly things that the Bulls may not like.
"And yes, the Bulls do have a reputation for being somewhat cheap, so it's not a lock that they'll be willing to pay Butler an ugly-structured max deal that really affects their books. I don't think they can afford to let Butler go with how well he's playing, but this is definitely an interesting situation to watch. I'm interested to see how it plays out."
Kennedy isn't the first to accuse the Bulls of being cheap. Basketball Insiders' Steve Kyler suggested earlier this month Chicago's history of not giving a big payday to their No. 3 player - in this case, Butler behind Derrick Rose and Joakim Noah - could be the uncoupling of Butler and the Bulls.
