Despite rumors that Jimmy Butler was leaving the windy city for another location, he has come to terms with the Bulls for a 5 year $95 million dollar deal. Not bad for a kid picked 30th in the NBA draft.
The deal will include a player option after the fourth year.
Butler’s agents with Relativity Sports, Happy Walters and Steve McCaskill, negotiated the deal with Bulls general manager Gar Forman.
Butler was going to meet with at least 3 other teams including the Lakers and Celtics, but it appears those meetings have been cancelled and Butler is staying put in Chicago
Butler had rejected the Bulls’ offer of a four-year, $44 million deal. The Bulls could have had Butler on a four-year, $48 million deal.
Signing Butler to the maximum puts the Bulls well into the tax, but they will still have the mid-level exception. However, the Bulls are in danger of potentially rubbing up against the salary apron, which will make it tremendously difficult to make additional acquisitions.
Along with a reported deal for Mike Dunleavy, the Bulls are poised to bring back their starting five for next season for newly minted head coach Fred Hoiberg.