Bulls Sign Nikola Vucevic to Three Year, $60 Million Extension

According to a report by Shams Charania of The Athletic, the Chicago Bulls have signed center Nikola Vucevic to a three-year, $60 million contract extension. The Bulls have also issued an official press release confirming the extension. Vucevic, 32, was acquired by the Bulls in a trade with the Orlando Magic during the 2021 trade deadline.

“During his time in Chicago, Nikola has proven that he is a special player both on and off the court,” executive VP of basketball operations Arturas Karnisovas said in a statement. “He has produced at an elite level since we acquired him and will remain an integral part of our foundation moving forward. Nikola’s willingness to do whatever is asked of him to help us win, while also being an established veteran leader for our group, makes him a valuable component of the culture of our organization. He is a consummate professional and tremendous teammate, which plays a big role in making us an attractive destination for other players. We are excited to have him continue to be part of our journey.”

The Chicago Bulls and center Nikola Vucevic are nearing a three-year, $60 million contract extension, league sources tell @TheAthletic @Stadium. pic.twitter.com/xYo9vF0Gk1

— Shams Charania (@ShamsCharania) June 28, 2023

A Steady Option at Center

Since joining the Bulls, Vucevic has been a consistent performer, averaging 18.2 points, 11.1 rebounds, and 3.3 assists per game in 181 regular-season appearances. He has been a reliable scorer and rebounder for the team, maintaining similar statistics in both the 2021-22 and 2022-23 seasons, with averages of 17.6 points, 11.0 rebounds, and 3.2 assists.

While Vucevic is not known for his elite defense, his offensive skills and rebounding ability make him a valuable asset for the Bulls. The team was keen on securing a new deal with him, as they didn’t have a clear path to replace him at the same salary slot if they had let him become a free agent. Additionally, there was a sentiment within the organization that they didn’t want to part ways with Vucevic after paying a high price to acquire him in the trade with Orlando, which involved giving up two lottery picks and young center Wendell Carter.

Bulls Can Look to Free Agency

With Vucevic’s extension settled, the Bulls can now focus on free agency. They are expected to re-sign guards Coby White and Ayo Dosunmu, and there is also a possibility of reaching a deal with unrestricted free agent Patrick Beverley. The Bulls currently project to be about $27 million below the luxury tax line after signing Vucevic, although the exact structure of his extension and Andre Drummond’s player-option decision could affect that estimate. Once the contract is signed, Vucevic will be ineligible to be traded for six months.

The signing of Vucevic further limits the options for teams seeking centers in free agency. With Vucevic and Naz Reid off the market, the remaining available centers include Jakob Poeltl, Brook Lopez, Mason Plumlee, and Dwight Powell, among others. However, there is a lack of reliable veteran options beyond the top-tier players in this position.