The Chicago Bulls signed one of the major deals they needed to work out this offseason. The Bulls completed the deal just after they sent tender offers to three players about to become restricted free agents this weekend.
The Chicago Bulls sign Nikola Vucevic
According to the Chicago Bulls, the team extended Nikola Vucevic.
OFFICIAL: We have extended @NikolaVucevic pic.twitter.com/bA1RRs9LBq
— Chicago Bulls (@chicagobulls) June 28, 2023
According to Shams Charania, the Bulls were nearing a deal with Vucevic for $60 million over three years.
The Chicago Bulls and center Nikola Vucevic are nearing a three-year, $60 million contract extension, league sources tell @TheAthletic @Stadium. pic.twitter.com/xYo9vF0Gk1
— Shams Charania (@ShamsCharania) June 28, 2023
Morten Stig Jensen with Forbes thinks the contract by the Bulls constitutes a “panic” for the front office. They think $20 million a year is an overpay for a player they already lost a trade deal on:
“In fact, one might argue that Vučević’s market shouldn’t be more than slightly higher than the Non-Tax MLE, estimated to land at roughly $12.5 million this year. At that price range, he will have suitors. If the Bulls wish to keep him, outbidding teams over the cap, but under the tax, by a million or so should put them in the room.”
I’ll put it this way. The Bulls are better with Vucevic on the team than not. But they’re not going anywhere in the playoffs with last year’s roster. They will need to go into the luxury tax after overpaying for Vucevic.
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