Bulls Rumors: Lauri Markkanen Won't Sign Rookie Contract Extension by Deadline

Forward Lauri Markkanen and the Chicago Bulls did not reach an agreement on a contract extension ahead of Monday's 6 p.m. ET deadline, according to Shams Charania of Stadium and The Athletic.

The 23-year-old Markkanen is coming off a disappointing 2019-20 season in which he averaged 14.7 points and 6.3 rebounds per game while shooting 34.4 percent from three-point range, all the lowest marks of his three-year career.

The 2017 No. 7 overall pick surprised many with his hot start in the NBA, earning first-team All-Rookie honors his first year after averaging 15.2 points per game. He expanded on the production in his second year with 18.7 points and 9.0 rebounds per game, becoming one of the go-to options on a young Bulls roster.

Though he still finished second in scoring average for Chicago last year, his third season was a disappointment for a player who had raised expectations during his first two seasons.

General manager Marc Eversley acknowledged the forward's play was a concern shortly after being hired.

"Lauri (Markkanen) is a modern-day stretch 4 (power forward)," he said in May, per K.C. Johnson of NBC Sports. "I think he's got a great stroke. He's got a wonderful shooting touch. He regressed a little bit last year. I'd love to learn more about that."

Now, it appears Markkanen will have to prove himself this upcoming season.

At the least, Markkanen can be a useful part of the offense as someone who can stretch a defense and score in a number of ways. If he returns to the path he had in his first two years, he could work his way into a nice payday next offseason.