The Jaden Ivey saga has taken a peculiar turn in Chicago. And yes, there suddenly is a “Jaden Ivey saga.” It began after the Bulls’ February 19 loss to the Toronto Raptors, when Ivey didn’t see the floor at all. Officially, it was a DNP-CD. The strange part? He was reportedly healthy and available to play, but never checked in.
That decision came after Ivey had started three of his first four games with the Bulls, averaging 11.5 points, 4.8 rebounds, 4.0 assists, and 2.0 steals while shooting 41.7 percent from the field and 38.1 percent from three.
From intrigue to a question mark
It was certainly a head-scratching decision, especially considering the Bulls had just traded for Ivey and appeared intent on making him part of the rotation. But with Josh Giddey and Tre Jones returning from injury, minutes suddenly became scarce, and Ivey happened to be the odd man out.
But the situation took a more concerning turn after the DNP-CD. Following the loss to Toronto, Ivey said “the old J.I. is dead,” adding that he’s “not the same player [he] used to be.” A day later, Bulls head coach Billy Donovan added, “In my opinion, he’s not moving like he once did.”
Then came the injury diagnosis. After Ivey openly questioned himself and Billy Donovan echoed those concerns, the Bulls ruled the fourth-year guard out for two weeks due to knee soreness. It was an unexpected turn in the saga, especially given how well Ivey had played prior to the All-Star break.
And yet, that’s how far things have shifted in a matter of weeks. From a tantalizing trade deadline addition to a question mark. Ivey’s standing now appears to be up in the air.
Jaden Ivey's troublesome $30.3 million cap hold
The stakes grow even higher with the offseason looming, as Ivey is set to enter restricted free agency. The expectation likely wasn’t that he’d command an exorbitant, long-term deal (unless his post–All-Star break play demanded one). Still, his $13.4 million qualifying offer would have given the Bulls a reasonable path to evaluate him for another year.
Now, rescinding Ivey’s qualifying offer may be the most practical path forward. The $13.4 million salary, however, isn’t the issue; it's the $30.3 million cap hold that is. Until he signs or is renounced, that placeholder would occupy valuable space on the Bulls’ cap sheet, restricting the Bulls' ability to sign a major addition in free agency.
Offering their perspective on the Jaden Ivey situation via the Game Theory Podcast, NBA analysts Sam Vecenie and Bryce Simon outlined two practical ways for Chicago to avoid Ivey’s sizable cap hold.
First, Simon's idea was to initiate discussions before free agency and make the team’s stance clear: Ivey can accept the qualifying offer, or it will be renounced to preserve cap flexibility.
Second, from Vecenie, move on from the qualifying offer altogether and negotiate a two-year deal at roughly the same annual value, with a team option in the second season.
Ivey's evaluation window is closing
Both proposals offer sensible ways to avoid the cap hold attached to Ivey. And while there’s still a scenario in which the former Piston proves to be a valuable piece long term, he’s quickly drifting into flier territory. Having already been ruled out for six games with just 24 remaining, the Bulls are running out of time to properly evaluate him.
It may be best to let Ivey test unrestricted free agency. On the surface, that would make Chicago’s trade for him look pointless, especially if he were to bolt and sign with a rival team. But sending Kevin Huerter and Dario Saric to Detroit was hardly a franchise-altering sacrifice.
All in all, if that’s the route Chicago chooses, it would represent a dramatic philosophical shift in less than three weeks since trading for the former fifth-overall pick.