Bulls' Butler: 'I'm going to be in Chicago ... I know that for a fact'

Jimmy Butler and the Chicago Bulls couldn't reach a deal before the Oct. 31 extension deadline for fourth-year players, but he doesn't plan on leaving Chicago any time soon.

"People say I'm chasing money when that's not it. Because I'm going to be in Chicago. I say that with a smile on my face because I know that for a fact," Butler said after the Bulls beat the Minnesota Timberwolves on Saturday.

"We'll resume (negotiations) in July," Butler said, according to the Chicago Tribune's K.C. Johnson, who reports that Butler turned down a multiyear contract with an average salary of $11 million.

Butler will now become a restricted free agent in July, and if he can add to his offensive game this season while continuing to play some of the best perimeter defense in the league, he can surely secure a more lucrative offer.

The Bulls will be able to match any offers for Butler in restricted free agency, and the 25-year-old swingman said that he and the team left talks on great terms.

"This is still home. These are still my guys. This is the team I want to be on. This is the city I want to represent," Butler said. "And that all comes down from the management and ownership, so a lot of respect for everybody that's helped me through the whole process."

After missing the first two games of the season with a sprained thumb, Butler returned to the Bulls' lineup Saturday with a 24-point performance in Minnesota.