Bulls Rumors: Lauri Markkanen, Chicago $4M Apart in Contract Extension Talks

Lauri Markkanen was eligible to sign a long-term extension with the Chicago Bulls this past offseason, though that didn't happen, with the sides reportedly "$4 million apart for the starting salary figure in the first year of a multiyear deal," according to K.C. Johnson of NBC Sports.

Per that report: "It's clear the new regime wanted Markkanen back on a take-it-or-leave it price to afford flexibility as it works to reshape the roster in its philosophy. If Markkanen has a huge year, the Bulls own the right to match any offer sheet he might get."

Here's the tricky part about waiting for restricted free agency: A number of potential free agents next offseason like Giannis Antetokounmpo, LeBron James, Anthony Davis, Paul George and Rudy Gobert—and potential restricted free agents like Jayson Tatum, Donovan Mitchell, Bam Adebayo, De'Aaron Fox, Jonathan Isaac, OG Anunoby, Kyle Kuzma, Derrick White, Markelle Fultz and Luke Kennard—all signed long-term extensions this offseason.

That means teams with cap space will have limited targets next summer and might be willing to overpay, and players like Markkanen could sign highly lucrative offer sheets designed to make it difficult for the Bulls to match. 

Take the case of Bogdan Bogdanovic this offseason. The veteran wing signed a four-year, $72 million offer sheet with the Hawks that reportedly included a player option in the fourth year and a 15 percent trade kicker designed to make the team dealing him away responsible for its payment.

Had the Sacramento Kings matched, Bogdanovic also would have had a full no-trade clause in the 2020-21 season. The Kings, facing a future salary crunch and a bit of a logjam on the wing with Buddy Hield also on the roster, had to make a choice: retain Bogdanovic and hope they could trade Hield in the future, or lose Bogdanovic for nothing in free agency. 

The Kings, clearly prioritizing future financial flexibility and short-term roster balance, chose not to match the offer. That's the sort of dilemma another team could try to force on the Bulls next summer if they covet Markkanen. 

He'll have his suitors. The 23-year-old took a bit of a step back last season, averaging 14.7 points and 6.3 rebounds in 50 games while shooting 42.5 percent from the field and 34.4 percent from three. All four of those stats were career lows. 

Still, big men who can stretch the floor remain valuable in the modern NBA. Barring a truly poor season, keeping Markkanen won't be cheap.