Chicago Bulls: What money does Theis deserve on his next contract?

One of the more exciting additions that the Chicago Bulls front office made at the trade deadline that was a solid two-way force for the team down low was center Daniel Theis. Executive VP of basketball operations Arturas Karnisovas and general manager Marc Eversley landed Theis in a big deadline day deal back on March 25 that also landed them the former Radford 27-year-old defensive standout shooting guard Javonte Green.

The Bulls had a plethora of roster movement at the trade deadline, but landing Theis and star center Nikola Vucevic were the most impactful deals. Karnisovas and the Bulls landed Vucevic in that blockbuster deadline morning deal with the Orlando Magic that saw them send off third-year center Wendell Carter Jr., veteran small forward Otto Porter Jr., and two first-round draft picks.

If the Bulls truly want to maximize the return that they get out of landing Theis from the Celtics, they need to get him on a value contract this summer. The problem with that is we don’t quite now what the fair market value for Theis will be. We also don’t exactly know how much he wants to return to the Bulls, granted he seemed to enjoy his time with the team post-deadline.

The last contract Theis was on was worth just $10 million over the course of two years. The Celtics signed him to that contract two summers ago. He surely played above that contract value in the past two seasons.

To determine that value, let’s take a look at what the center market will look like this offseason.

Unfortunately for the Bulls, the center market this summer is rather thin in free agency. The positive side to that could be that there’s not a premium placed on role player centers like Theis in free agency in this age in the NBA like there is on top point guard and wing free agents.

Some of the other top centers in unrestricted free agency include New York Knicks’ Nerlens Noel, Portland Trail Blazers’ Enes Kanter, and Sacramento Kings’ Richaun Holmes. With those three big men likely to command a contract in the ballpark of $6-$10 million annually, depending on where they sign next and for how long, that could serve as good news for the Bulls in trying to re-sign Theis.

The center free agent market, and how Daniel Theis and the Chicago Bulls fit in?

The real wild card for the center market this summer will be restricted free agency. There’s an interesting crop of bigs hitting restricted free agency this summer that could command the attention of a lot of teams with more cap space. Younger bigs like John Collins, Lauri Markkanen, Zach Collins, and Jarrett Allen, could allow other unrestricted centers like Theis to see their market value decline this summer.

That is due to the long-term appeal of those younger bigs in an age where teams are looking to solidify their frontcourt with modern stretch fours and fives.

Although Theis wasn’t a very good three-point shooter purely in terms of percentage down the stretch with the Bulls. He shot just over 28 percent from beyond the arc in his nearly two dozen games played with the Bulls during the regular season. That was the first time in his career that Theis has shot under 30 percent from beyond the arc for any team in any season.

Moreover, there was a report that surfaced from Rob Schaefer of NBC Sports Chicago back in April expressing the interest that the Bulls had in potentially re-signing Theis to a longer-term deal. If that is the case, he might be willing to take more of a pay cut in terms of annual salary. That might get the salary figure within $2-$3 million of where it currently is, if not lower.

Given that the Bulls don’t have an overwhelming amount of cap space to work with this offseason, you’d think they’d like to keep a Theis contract in the eight figures on an annual basis. Keeping that salary figure from doubling what it was previously should be doable.

Theis was a solid piece for this Bulls frontcourt rotation down the stretch in the season that was, and that is something that Karnisovas and Eversley will recognize in a big way this summer. Especially if the Bulls are planning to let Markkanen walk in restricted free agency, they’ll need something to make up for lost depth in the form of WCJ, second-year center Daniel Gafford, and Luke Kornet, all of which they dealt at the trade deadline.

Keeping Theis around makes a lot of sense for all parties involved, and his salary figure is likely to come out around $8-$10 million if he signs a one or two-year contract. If his next deal is for a longer-term than that, it’s likely his next annual salary will fall in the range of $6-$8 million. But he is a fan favorite already that we would love to see back in a Bulls uniform next season.

The Bulls finished up the regular season with a record of 31-41 following a May 16 win over the divisional foe Milwaukee Bucks at home. That led to first-year head coach Billy Donovan and the Bulls missing out on the postseason for the fourth straight year.