Bulls Rumors: Jimmy Butler Turned Down $40 Million Extension

Nov 25, 2014; Denver, CO, USA; Chicago Bulls guard Jimmy Butler (21) during the second half against the Denver Nuggets at Pepsi Center. The Nuggets won 114-109. Mandatory Credit: Chris Humphreys-USA TODAY Sports
Nov 25, 2014; Denver, CO, USA; Chicago Bulls guard Jimmy Butler (21) during the second half against the Denver Nuggets at Pepsi Center. The Nuggets won 114-109. Mandatory Credit: Chris Humphreys-USA TODAY Sports

Jimmy Butler reportedly turned down a modest contract extension offer from the Chicago Bulls this past off-season, a decision that looks smart so far this 2014-2015 NBA season.

An NBA player often faces a tough decision in the time leading up to a contract year. On the one hand, he can opt for a team-friendly extension that provides the assurances of financial security in an uncertain profession.

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On the other hand, he can choose to gamble on himself in that contract year, trying to play well and cash in as a free agent.

Jimmy Butler chose the latter, and so far it is working out quite nicely for him. Butler is averaging 21.6 points per game while playing his usual outstanding defense for the Bulls. He should be in line to get paid this off-season, and now knowing the modest extension offer that he turned down, we know that he stands to make significantly more than he would have.

Joe Cowley of the Chicago Sun-Times has the scoop on the contract extension Butler turned down before the season:

"According to a source, Butler turned down a four-year, $40 million-plus offer from the Bulls. After watching Klay Thompson get the max four-year, $70 million contract from the Warriors, Butler was willing to test the market as a restricted free agent and force the Bulls to make the tough decision."

That deal would have been one heck of a bargain for the Bulls. Now, they will have to pay up to keep Butler at the end of the season. Even though he might get paid like one, Butler still says he doesn’t see himself as a star:

"“I’m not a star,’’ Butler said. “I’m a good role player on a really, really good team, a really, really deep team. I like being a role player. Star has never been next to Jimmy Butler’s name. It never will be. I’ll always be an under-the-radar dawg.’’"

Sorry, Jimmy. ‘Star’ is already next to your name, and you’re going to get paid like one.

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