Chicago Bulls Roster: Two Days To Jimmy Butler’s Payday?

The Chicago Bulls starting shooting guard Jimmy Butler was out for Wednesday night’s game against the New York Knicks. The thumb injury he suffered against the Charlotte Hornets will keep him out reportedly for 2-4 weeks according to K.C. Johnson. Even though Butler has been doing drills dribbling the ball around and shooting, he has not been practicing with the team.

Sorry Chicago Bulls fans, I guess we all have to deal with watching Kirk Hinrich in the starting lineup…again.

But this is not about Butler being in the starting lineup against the New York Knicks. This is not about how long Jimmy Butler will be out. I’ll tell you what this is about.

It’s about getting Jimmy Butler signed to that extension before Friday October 31st.

Oct 19, 2014; Chicago, IL, USA; Chicago Bulls guard Derrick Rose (1) drives to the basket against Charlotte Hornets guard Kemba Walker (15) during the second half at United Center. Mandatory Credit: Jerry Lai-USA TODAY Sports

The Charlotte Hornets showed their commitment to winning by locking up their starting point guard, Kemba Walker to a four year, $48 million dollar contract extension according to reports from ESPN. Let’s see what early returns the Hornets got from their investment.

In the Hornets regular season opener against the Milwaukee Bucks, Walker scored a game high 26 points while knocking down the two most important shots of the game. One shot was a three pointer to send the game into overtime after the Hornets were down 24 points in the third quarter. The second shot sent the fans home happy with a 21 footer with five seconds left to deliver Charlotte the win on a historical night that brought the Hornets name back to the city after 12 years.

Oh, and he did all of this with cramps in his right foot.

Okay, before everyone starts complaining about a Kemba Walker sighting on a Chicago Bulls website, let me get to the point. The Charlotte Hornets have laid out the market value of what the Chicago Bulls can pay Jimmy Butler without looking like a bunch of penny pinching tightwads.

Things have changed since this situation started over the summer. Back then Butler would have been lucky to even be able to command a $12 million dollar a year salary.

Remember what Chuck Myron of Hoops Rumors said this summer about the kind of contract Jimmy Butler could corral from the Chicago Bulls.

"…as I surmised last month when I predicted that the Bulls and the Happy Walters client would come to terms on a four-year $42 MM extension. That’s $9MM more than Gibson saw, but there’d still be a decent chance that it would end up a relative bargain for the Bulls, particularly if the deal is backloaded."

In an article this summer I brought up two possible questions the Chicago Bulls would be facing dealing with Jimmy Butler’s contract.  Now that October 31st is upon us, let’s revisit the questions…

Oct 7, 2014; Auburn Hills, MI, USA; Chicago Bulls guard Jimmy Butler (21) defended by Detroit Pistons guard Kentavious Caldwell-Pope (5) in the first half at The Palace of Auburn Hills. Mandatory Credit: Rick Osentoski-USA TODAY Sports

1) Is Jimmy Butler good enough to warrant the money that he will undoubtedly ask for?

Answer: Yes. We all saw Butler’s performance in the preseason. Jimmy Butler’s progression is evident based on how he scored the basketball. Last season Butler shot way too many threes. In the preseason, he attacked the basket and dominated his opponent. Jimmy Butler has now developed into a two way player that can defend the LeBron James and Carmelo Anthonys of the world while getting buckets on the offensive end as well.

October 1, 2012; Chicago, IL, USA; Chicago Bulls Chairman Jerry Reinsdorf (left) and Chicago Bulls President and Chief Operating Officer Michael Reinsdorf watch the activities during Chicago Bulls media day at the Berto Center. Mandatory Credit: David Banks-USA TODAY Sports

2) How will the Chicago Bulls pay Jimmy Butler without annoying Jerry Reinsdorf with the dreaded luxury tax?

With the television deal that the NBA signed with ABC/ESPN and TNT through 2025. it should not matter at this point. The salary cap is going to explode in a couple of years. The Chicago Bulls need to make this move now and make the $12 million dollar figure economical now before salaries skyrocket.

Chuck Myron of Hoops Rumors shows us what the Chicago Bulls face on the financial front in the short term.

"Chicago already has about $58.6 MM in commitments for 2015-16 and $43.8 MM going forward so creating wiggle room as possible beneath the tax threshold will be important as the team attempts to contend in the next few years."

With Pau Gasol not getting any younger and the constant health concerns of Joakim Noah and Derrick Rose always in the equation, Jimmy Butler will eventually step in to be a major cog in the Bulls’ future plans if signed. But for how much? If the Chicago Bulls are waiting to see what the future holds, they will find uncertainty.

Zach Lowe of Grantland.com breaks  it down in an earlier summer piece on the free agency market in the future.

"One problem: No one knows when, or how, that jump will happen. It’s at $63 million for this season, and teams are projecting it could leap as high as $80 million for the 2016-17 season under the new TV contract.Grantland reported in July that the league is considering methods of pinching the onrush of money to avoid gargantuan one year jump in the cap level. Teams are speculating that the league might apply future TV money to the 2015-16 cap, nudging it up above the current projection of $66.5 million."

There is a very easy way for the Chicago Bulls to avoid all of this uncertainty. Sign Jimmy Butler to a contract similar to Kemba Walker and continue on the championship run.

Well Pippen Peoples, time is running out for the Chicago Bulls to lock up Jimmy Butler to an extension. What do you think? Should the Bulls sign him by Friday or wait for the season to end? If they do sign him, how much is he worth now based on what you’ve seen lately?  Let your voice be heard in the comment section with your opinion on what should happen.

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