NBA FREE AGENCY
Key Free Agents: F Lauri Markkanen (2020-21 salary – $6.7M), F/C Daniel Theis ($5M), G Garrett Temple ($4.7M), G Denzel Valentine ($4.6M)
Other Free Agents: C Cristiano Felicio ($7.5M), G Ryan Arcidiacono ($3M – Team Option), F Javonte Green ($1.5M), G Adam Mokoka (Two-Way), G Devon Dotson (Two-Way)
Over the years, the Bulls have not really had any major free agency signings other than bringing Zach LaVine back in 2018 after he signed an offer sheet with the Sacramento Kings. This offseason though, Chicago is going to have to be extremely aggressive in free agency not just because they have some key guys hitting the market, but because they need to add more talent to their roster.
Lauri Markkanen, Daniel Theis, Garrett Temple and Denzel Valentine are the four biggest free agents for the Bulls this offseason and while they all held big roles with this team over the years and this season specifically, Chicago could be getting ready to part ways with some of them.
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Ahead of the 2020-21 season, the Bulls and Lauri Markkanen were engaged in contract-extension talks, but then things seemed to stall after both sides could not agree to terms on a deal. K.C. Johnson of NBC Sports reported earlier in the season that Chicago and Markkanen were “$4 million apart for the starting salary figure in the first year of a multiyear deal,” which caused contract talks to stop.
Lauri Markkanen is now set to become a restricted free agent and while his market does not seem too big right now, there are some teams that are expected to show interest in the young big man. The Mavericks, Spurs and Knicks are three teams that have been rumored to be interested in potentially signing Markkanen this offseason, sources tell NBA Analysis Network.
The Chicago Bulls do still have interest in bringing back their former 7th overall pick in 2017 to pair with Nikola Vucevic in the frontcourt, but they do not and they cannot afford to overpay him. If Markkanen is still demanding a significant raise in the offseason, the Bulls could opt to prioritize other free agents instead of him.
There is mutual interest between the Bulls and Denzel Valentine as well heading into the offseason, as his free agent market is not large at all and he will likely be a late signing in free agency, but guys like Daniel Theis and Garrett Temple may have to be signed rather quickly as they are starting to attract the attention of other teams around the league. Theis came to Chicago at the trade deadline this year and Temple signed a one-year, $4.7M deal with them last offseason.
With both guys expected to draw a significant amount of interest in free agency, the Bulls would have to act quickly in order to bring either of them back for at least the 2021-22 season. Temple has made it clear though that he wants to return to Chicago in free agency, and in his end-of-season zoom interview he stated, “I could never say what’s going to happen in free agency. I can only say what I would like to happen. I really enjoyed Chicago. Even with the snow, even with the pandemic, the organization from what I’ve been hearing took a turn for the better. It was great while I was here.”
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If Temple is willing to come back and play in Chicago for the same or less contract than he did during the 2020-21 season, then the Bulls will likely opt to re-sign him, but if he wants more money, they may not be able to bring him back as a result of the Bulls expected to pursue a couple big names on the market.
Kyle Lowry, Lonzo Ball, Dennis Schroder, Devonte’ Graham and Norman Powell are all expected to be guys that the Bulls take a long look at in free agency this offseason and they could look to sign one of these guys to a long-term deal should they opt not to bring back Lauri Markkanen on a long-term deal.
Entering the offseason, the Bulls have roughly $12.6M in cap space, which is not that much, but they could free up a large chunk of cap space depending on if they exercise the options on both Thaddeus Young’s and Tomas Satoransky’s contracts.
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Young is set to make $14.2M next season, but his contract is partially-guaranteed for $6M and becomes fully guaranteed on August 1. Satoransky is set to make $10M next season, but his contract is partially-guaranteed for $5M and is fully guaranteed as well on August 1. Not only could the Bulls potentially waive both of these guys and free up some cap space, but they could also look to trade both of them and free up an extra $24.2M on their books.
The Bulls are expected to be big contenders to potentially sign Lonzo Ball this offseason and with Coby White now being out, it may be a given that they will be looking to bring in a high-level point guard to their team. However, unless the Bulls are willing to pay a ton of luxury taxes, they will need to free up some cap space to sign one of these guys like Ball outright, which is why Young and Satoransky could be moved at some point this offseason.
Chicago has a chance to pull off another big move and add a third key guy to their rotation next to Zach LaVine and Nikola Vucevic, so it should not come as a shock if the Bulls look to be aggressive when free agency begins this offseason. Adding that third talent to this team could turn them into a playoff threat in the Eastern Conference during the 2021-22 season.
