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By K.C. Johnson, Chicago Tribune reporter
8:46 p.m. CST, November 30, 2011
For the second time in 30 months, Bulls Chairman Jerry Reinsdorf said he would give strong consideration to paying the NBA's luxury tax if he could acquire a player who gave the team a reasonable chance to win a championship.
Reinsdorf offered his thinking through a team spokesman Wednesday, the first day executives and coaches could comment on team affairs since the NBA lockout began on July 1.
The day also signaled the unofficial start to free agency, with teams allowed to contact player agents. The Bulls began their day with a formality — contacting Derrick Rose's representatives to discuss parameters of his five-year, maximum contract extension. All that remains is structuring the roughly $100 million deal in the most beneficial manner to facilitate future moves — once the league sets the salary cap.
The Bulls continued Wednesday to cast a wide net, contacting representatives for Caron Butler, Grant Hill, Shane Battier, Kurt Thomas, Jamal Crawford, Josh Howard, T.J. Ford, Keith Bogans and several others.
Because no deals can be signed until Dec. 9, Wednesday marked a day for all teams to start gauging the market and seeing what options and interest exists. The Bulls appear to be attempting to upgrade at shooting guard while expressing interest in bringing Bogans back with his $1.73 million option, likely in a reserve role.
The league has not yet set a deadline for the Bulls to make a decision on Bogans' team option. In a normal free agency period, they would have had 10 days for that decision.
That the Bulls expressed interest in players like Butler suggests they are open to using the full $5 million midlevel exception. Butler, according to a league source, has heavy interest from at least six teams.
Previously, speculation existed the Bulls might be averse to using the full midlevel exception because of luxury-tax concerns once Rose's extension begins in 2013-14. And there's still no guarantee they will.
However, Reinsdorf, who expressed similar sentiments in a 2009 interview, lent that possibility new credence. The question applies anew because a more punitive luxury tax is poised to take effect in 2013-14 of the pending 10-year collective bargaining agreement. Revenue sharing also will be increased, and the Bulls are one of the league's most profitable franchises.
Furthermore, Rose's extension will mean four players — Carlos Boozer, Luol Deng, Joakim Noah are the others — will be earning salaries north of $11.3 million in 2013-14.
Management's goals are to add shooting and another player who can create off the dribble to ease Rose's offensive burden. One solid fit and potential target, restricted free agent Arron Afflalo, continues to sound as if he's headed for a return to Denver. Nuggets executive Masai Ujiri told the Denver Post he contacted Afflalo's representatives and "we feel comfortable we'll get something done."
Thursday marks the opening of practice facilities to players, though their workouts can't be supervised or assisted by coaches. Rose, Deng and Ronnie Brewer are among those expected at the Berto Center.
[email protected]
By K.C. Johnson, Chicago Tribune reporter
8:46 p.m. CST, November 30, 2011
For the second time in 30 months, Bulls Chairman Jerry Reinsdorf said he would give strong consideration to paying the NBA's luxury tax if he could acquire a player who gave the team a reasonable chance to win a championship.
Reinsdorf offered his thinking through a team spokesman Wednesday, the first day executives and coaches could comment on team affairs since the NBA lockout began on July 1.
The day also signaled the unofficial start to free agency, with teams allowed to contact player agents. The Bulls began their day with a formality — contacting Derrick Rose's representatives to discuss parameters of his five-year, maximum contract extension. All that remains is structuring the roughly $100 million deal in the most beneficial manner to facilitate future moves — once the league sets the salary cap.
The Bulls continued Wednesday to cast a wide net, contacting representatives for Caron Butler, Grant Hill, Shane Battier, Kurt Thomas, Jamal Crawford, Josh Howard, T.J. Ford, Keith Bogans and several others.
Because no deals can be signed until Dec. 9, Wednesday marked a day for all teams to start gauging the market and seeing what options and interest exists. The Bulls appear to be attempting to upgrade at shooting guard while expressing interest in bringing Bogans back with his $1.73 million option, likely in a reserve role.
The league has not yet set a deadline for the Bulls to make a decision on Bogans' team option. In a normal free agency period, they would have had 10 days for that decision.
That the Bulls expressed interest in players like Butler suggests they are open to using the full $5 million midlevel exception. Butler, according to a league source, has heavy interest from at least six teams.
Previously, speculation existed the Bulls might be averse to using the full midlevel exception because of luxury-tax concerns once Rose's extension begins in 2013-14. And there's still no guarantee they will.
However, Reinsdorf, who expressed similar sentiments in a 2009 interview, lent that possibility new credence. The question applies anew because a more punitive luxury tax is poised to take effect in 2013-14 of the pending 10-year collective bargaining agreement. Revenue sharing also will be increased, and the Bulls are one of the league's most profitable franchises.
Furthermore, Rose's extension will mean four players — Carlos Boozer, Luol Deng, Joakim Noah are the others — will be earning salaries north of $11.3 million in 2013-14.
Management's goals are to add shooting and another player who can create off the dribble to ease Rose's offensive burden. One solid fit and potential target, restricted free agent Arron Afflalo, continues to sound as if he's headed for a return to Denver. Nuggets executive Masai Ujiri told the Denver Post he contacted Afflalo's representatives and "we feel comfortable we'll get something done."
Thursday marks the opening of practice facilities to players, though their workouts can't be supervised or assisted by coaches. Rose, Deng and Ronnie Brewer are among those expected at the Berto Center.
[email protected]