Bulls Rumors: Lauri Markkanen, Chicago 'Far Apart' on Contract Extension

The Chicago Bulls and forward Lauri Markkanen reportedly aren't yet close to agreeing to a contract extension.

According to Michael Scotto of Hoops Hype, Markkanen and the Bulls are "far apart" despite the 23-year-old Finn expressing a desire to remain in Chicago.

Markkanen is set to enter the final year of his contract in 2020-21. If the Bulls tender him a $9 million qualifying offer before the 2021-22 campaign, he can become a restricted free agent next offseason.

After enjoying a breakout campaign in 2018-19, Markkanen took a step back last season. He shot a career-low 42.5 percent from the field and averaged just 14.7 points and 6.3 rebounds per game, both of which were career lows.

Markkanen was the No. 7 overall pick in the 2017 NBA draft out of Arizona, and he made an instant impact as a rookie in 2017-18.

The stretch four averaged 15.2 points, 7.5 rebounds and 2.1 three-pointers made per game en route to being named to the All-Rookie First Team.

Markkanen followed that up with the best season of his career to date, averaging career highs with 18.7 points, 9.0 rebounds and 2.3 three-pointers made per contest in 2018-19.

While Markkanen was widely expected to progress to an All-Star level last season, he did not make strides under head coach Jim Boylen. There is hope Markkanen can get back on track in 2020-21, however, now that Billy Donovan is in the fold as the new head coach.

The Bulls have endured three losing and non-playoff seasons in a row, but they possess a ton of young talent capable of making a leap if Donovan coaches them up properly.

Markkanen is near the top of that list, but the likes of Zach LaVine, Coby White, Wendell Carter Jr., Otto Porter Jr. and rookie Patrick Williams all have a chance to get much better as well.

The pieces may be in place for Chicago to build something special in the coming years, and if Markkanen shows signs of life this season after a down 2019-20 campaign, he has a good chance to be part of the core moving forward.