Now that the Boston Celtics have claimed the 2023-24 Larry O’Brien Trophy, the Chicago Bulls can get to work.
While draft preparation is in full swing, organizations across the league will have to add another big task to their to-do list. Front offices are now eligible to begin negotiations with their own free agents. While teams previously had to wait until the official start of free agency (typically around June 30th), the league’s new Collective Bargaining Agreement has allowed for this process to begin the day after the NBA Finals.
In ot🔥her words, big-name free agents like Pascal Siakam, Donovan Mitchell, and OG Anunoby can each begin to speak with their respective front offices about a new deal. Opposing teams, however, would have to wait until June 30 at 5:00 p.m. CT to present an offer. The goal is to seemingly give franchises another leg up in keeping their in-house talent around.
Of co🍒urse, this twist means a lot for the Chicago Bulls, who have a couple of key players looking for new deals this su🐼mmer.
Will the Bulls Re-Sign DeRozan and Williams?
DeMar DeRozan is the team’s most notable free agent this offseason. Cracking two All-Star Games in three years with the team, all indications have been that the Chicago Bulls want to keep him around. Is this the smartest idea? No, but it’s surely been the most widely assumed.
Nevertheless, these two have had opportunities to reach a deal in the past. Let’s not forget that a report surfaced back in April that said DeRozan turned down a two-year extension worth around $40 million per season. Not only could this imply that the six-time All-Star is looking for an even longer-term commitment, but it could tell us that he wants to know what else the Bulls will do to set the franchise up for success. In an offseason podcast appearance, DeRozan outlined what he would prioritize in free agency, and the veteran didn’t hesitate to mention winning as part of the equation.
So … could the Chicago Bulls throw on an extra year now that the clock is ticking? Will DeMar DeRozan’s camp stop playing hardball or risk letting the free-agent market decide his worth?
If one thing is for sure, reaching an agreement with DeRozan over the next few days (which couldn’t be officially signed by July 6, by the way) would tell us A LOT about the rest of this offseason. The Bulls would clearly remain in a win-now mode, meaning that some extremely aggressive moves must follow to significantly💎 improve the roste🔴r. Otherwise, mediocrity is bound to stretch into Year 4.
Patrick Williams is the other free agent who will surely start conversations on Tuesday. Betting on himself after failing to reach a rookie-scale extension with the franchise last year, Williams suffered a season-ending foot surgery and continued to show only flashes when on the floor. He is now headed toward restricted free agency, which gives the Bulls the right to match 🅘any offer sheet that comes from another organization.
Whether or not Williams will even have to collect an offer sheet is the question, though. The Bulls will undoubtedly use his lackluster fourth year as a way to keep the price down. Meanwhile, Williams’ camp will try to point toward rumors that already have the Oklahoma City Thunder showing interest. Regardless, I have to imagine both parties will work hard to get something done ASAP. Restricted free agency can get messy, and the Bulls can’t risk losing the 22-year-old for nothing. Even if the start of his career has been underwhelming, Williams still represents the kind of young talent this losing organization has to keep around.
So how much money might the Bulls offer? I have to imagine things will settle somewhere in the $16-18 million annually range (or … higher), particularly after another down season. I know that still sounds like a lot, but let’s not forget that the NBA is about to come into a massive chunk of change thanks to . The cap is about to go up, which means the Mid-Level Exception is about to go up.
If the Bulls want to play hardball, though, Williams does have a pretty solid qualifying offer to consider (more than $12.0 million). While I’d be surprised to see it happen, we can’t necessarily rule out the idea of him betting on himself and playing on his qualifying offer, thus setting himself up for unrestrcited free agency next season.
