Bulls agree to new contract with Vucevic, but the real work begins Friday
The Bulls' first move of the offseason felt inevitable, even if it doesn't do much to push them toward the top of the Eastern Conference.
They announced a contract extension with center Nikola Vucevic, worth $60 million over three years, according to multiple reports.
On draft night, vice president of basketball operations Arturas Karnisovas said he thought the trade to acquire Vucevic from Orlando worked out well for the Bulls, since it set the stage for adding DeMar DeRozan, Lonzo Ball, Alex Caruso and lifted the team out of the rebuilding doldrums.
The Bulls clearly gave up too much - sending Wendell Carter and two first-round picks, which turned into Franz Wagner and Jett Howard, to Orlando - but the rebuild was going nowhere and the situation called for desperate measures.
The bigger question is what will the Bulls do once NBA free agency begins on Friday at 4 p.m. Central time? Chances are, they'll eventually re-sign restricted free agents Coby White and Ayo Dosunmu. They're still waiting to find out if center Andre Drummond will opt out of next year's deal.
The question is can the Bulls add new players and improve their prospects heading into next season? They won't have cap space, so they'll have to use the midlevel exception, which is worth around $12.5 million and can be split among multiple players.
Another move the Bulls should make is apply for an injured player exception for Lonzo Ball, who is trying to overcome a chronic knee injury and is not expected to play next season. The exception would allow the Bulls to add one player on a one-year deal, worth 50% of Ball's salary, so roughly $10.2 million.
One path would be to use the injury exception to try to being back Patrick Beverley or add another point guard who could guide the offense, then chase other free agents with the midlevel exception.
If the Bulls do all that and re-sign White, they'll likely end up with a luxury tax bill, but so what? If the goal is to contend in the East, Karnisovas has to do something.
The Vucevic contract seems reasonable, and it's likely far more than what he could have gotten from another team on the open market. If the Bulls are truly afraid of the luxury tax, they should have knocked their offer down a few million.
Vucevic has been decent, averaging 17.6 points and 11 rebounds last season, while shooting 52% from the field. As a team, the Bulls had the best defensive rating in the NBA from Jan. 1 through the end of the year, so it's not like Vucevic's defense is hurting them.
But the trio of Vucevic, DeRozan and Zach LaVine has worked well only when an experienced point guard was on the floor with them, either Ball or Beverley. The Bulls will try to transition White to the point guard spot, but they could still use some veteran guidance.
Vucevic, 32, has been at his best when he gets touches in the post, especially early in games. The Bulls have had a tendency to forget about him for long stretches. But maybe next season will be different.
"I'm excited to continue my journey as a Chicago Bull," Vucevic said in a statement released by the team. "Since I have arrived in Chicago, everyone in the organization has been incredibly welcoming to my family and me. I am motivated more than ever to achieve our mutual goals as a team.
"I also want to thank Bulls fans for the constant support, you guys are the best part about playing in Chicago. We will work harder than ever to bring success to the city of Chicago."
Twitter: @McGrawDHSports