There were rumors out there that Jimmy Butler was seeking a short-term offer sheet with another team, but now that the Chicago Bulls have submitted a maximum qualifying offer of five years, $90 million, it looks like Butler plans on negotiating a new deal with Chicago. ESPN’s Chris Broussard says Butler has postponed his meetings with other teams as he decides how long he wants his new deal to be in Chicago.
Butler was set to meet with the Los Angeles Lakers, Boston Celtics, Philadelphia 76ers and Dallas Mavericks. He still could sign an offer sheet with one of those teams, but it would have to be at least three years and there couldn’t be an option in the third year of a deal. At this point, this scenario is looking less likely.
Butler can take that maximum qualifying offer, but he likely doesn’t want to lock himself into a five-year deal with the cap exploding. He could take the one-year qualifying offer worth $4.4 million and become an unrestricted free agent next summer, but that would be a risky play. The reasonable scenario would be a compromise with the Bulls on a four-year deal with a player option in that last season.