As Deadline Approaches, Chicago Bulls Must Make Crucial Decision on Jimmy Butler

CHICAGO — In just a few short weeks, Jimmy Butler could be a very rich man. There isn't much room for outside distractions in the Chicago Bulls' training camp. Tom Thibodeau makes sure of that. But whether the team lets it show or not, Butler's uncertain contract status looms large over the start of the Bulls' most important season in years.

Butler and the Bulls have until October 31 to agree to an extension. Otherwise, the fourth-year shooting guard will become a restricted free agent next summer. The sides have been talking, but neither camp is eager to let the negotiations play out in public.

Taj Gibson was in Butler’s shoes two years ago. His negotiations came down to the wire, with his agent and Bulls brass hammering out the details of a four-year, $33 million extension from the locker room during the Bulls’ season opener. Gibson gave the deal a final go-ahead before he even had the chance to shower after the game.

Gibson admitted at the time that he could have probably attracted bigger offers had he waited for restricted free agency, but he valued the long-term security and ultimately signed the extension with the Bulls.

“I don’t wish that on anyone,” the sixth-year power forward said after practice on Wednesday, reminiscing on his talks. “It’s a blessing, though, at the same time. You’ve got to think about all the players that wish they were in that situation.”

Whether or not Butler’s own talks cut it that close (the Bulls play their home opener against the Cleveland Cavaliers on October 31), he’ll have a similar decision to make. Young, athletic perimeter players are highly valued in today’s speedy NBA. The Utah Jazz and Gordon Hayward inked a maximum offer sheet this summer, and the Golden State Warriors are expected to sign Klay Thompson to a similar deal in the near future. Butler doesn't have nearly the offensive ceiling of Thompson, but elite shooting guards are scarce in the current NBA landscape. If Butler waits it out, he could be in line for a big payday of his own.

John F. Rhodes/Associated Press

Still, the long-term security is a real concern, especially given Butler’s workload. He led the Bulls with 38.7 minutes per game but missed 13 games in November and December nursing a turf-toe injury that continued to nag at him throughout the season. Since Luol Deng’s departure, he’s taken up the mantle of the Bulls’ iron man, and even though he’s only 25, there’s enough injury risk that comes with that role that he can't afford to take next summer for granted.

On the flip side, if the Bulls don't lock Butler up now and he has a career year, it becomes much more difficult to keep him next summer when other teams can throw big offers at him. If Butler and the Bulls can agree on a fair number now, it would be in the interest of both sides to do it.

But what constitutes a fair price? Entering his fourth year, Butler’s value is still a question mark. His defense has always been his meal ticket. The title of perimeter stopper is one he stepped into in the 2013 playoffs when Deng was sidelined with a spinal injury, and it’s one he continued to perform excellently last season after Deng was traded in January. He’s the guy Thibodeau regularly sticks on the LeBron Jameses, Kevin Durants and Kobe Bryants of the league.

Offensively, Butler is much less of a known quantity. He didn’t play much his rookie year but took on a larger offensive responsibility over the last two years while Derrick Rose battled consecutive season-ending knee surgeries. After putting together a solid shooting season in 2012-13 (46.7 percent from the field and 38.1 percent from three-point range), Butler struggled last year. His overall shooting percentage dropped to 39.7, while his three-point clip plummeted to 28.3 percent.

Kamil Krzaczynski/Associated Press

“He’s a defender,” said Rose. “You think about all the defenders in the league, the ones who have made a long career out of it, like a Bruce Bowen, a guard who was mainly a defender but can make an open corner shot. It changes the game. That’s the kind of role Jimmy is going to have to find his way to.”

That role is a lot easier to play when you’re at best a fourth option on offense, as Butler will be on this deeper Bulls team. In 2012-13, his best offensive season, Butler took just 6.2 shots per game. Last year, that number jumped to 10.3, and his effectiveness took a hit. With a healthy Rose and the addition of Pau Gasol, the Bulls won’t need Butler to do much more on offense than knock down open threes when he gets them.

Hitting those shots consistently is the key. The Bulls know how good Butler is defensively, and they have every reason to lock him in now, while his value is relatively low. A contract similar to Gibson’s, paying just over $8 million per year, would be an ideal scenario for the team, but even a deal for $10-11 million annually could look like a steal in a couple years if Butler’s shooting improves.

Shooting guards go for much higher prices when they reach restricted free agency than if their teams are able to lock them up before they hit the market.

Player	Team	Contract	Type
Eric Gordon	New Orleans	4 years, $58 million	Free agent (restricted, 2012)
DeMar DeRozan	Toronto	4 years, $38 million	Extension (2012)
Lance Stephenson	Charlotte	3 years, $27 million	Free agent (unrestricted, 2014)
Gordon Hayward	Utah	4 years, $63 million	Free agent (restricted, 2014)
Klay Thompson	Golden State	Seeking max contract	TBD (2014-15)

It will be tough to judge any deal Butler signs for several years, and not just because of how he may develop as a player. The NBA's television deal is up after the 2015-16 season, and its new agreement is expected to raise the salary cap by as much as $15-20 million. If Butler signs a contract that seems like a slight overpay now, it could wind up a bargain if the new agreement is as lucrative as it appears.

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Whatever number the Bulls and Butler eventually settle on, it hasn’t weighed too heavily on Butler’s mind. In the first week of training camp, his teammates haven’t noticed a distraction. Rose didn’t even know Butler’s contract was up.

“It’s this year?” the 2011 MVP asked on Tuesday. “I didn’t know that. You can’t tell by the way he’s been practicing.”

“He’s handled it the right way,” Gibson added. “He’s been playing well in practice. He’s a good guy. He’s not a selfish guy. People understand in this situation, you’re not just worrying about yourself. You’re worrying about your future and your family. I think they’ll get something done.”

Butler isn’t sweating the prolonged talks, at least not yet.

“I grew up without money,” he said. “I think I’ll be alright for a couple more days.”