Bulls re-sign Jimmy Butler to reported 5-year, $94.3M max deal

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Jimmy Butler bet on himself last offseason, declining a lucrative contract extension. It paid off, and now the Chicago Bulls are betting big on Butler.

The Bulls re-introduced Butler at a press conference Thursday, announcing that the league's Most Improved Player has re-signed. The deal is reportedly a five-year maximum contract, one that will pay him an estimated $94.3 million when factoring in Wednesday's salary cap increase.

The fifth year of the deal is believed to be a player option.

"As one of the leagues rising stars, we look forward to his continued growth and him being a major contributor to our team’s continued success," general manager Gar Forman said.

Signing Butler long-term is a relief for the Bulls, even if it was always the most likely outcome. At times, Butler was said to want the flexibility of a short-term deal and reports suggested there was some friction between Butler and Derrick Rose, but "rumors are rumors, they're there to entertain y'all," as Butler said Thursday.

"I think we can play off each other well," Butler said. "Especially with the offense we're going to be running now."

That suggests new head coach Fred Hoiberg may have had a hand in convincing Butler of his role moving forward. With how little Rose and Butler have played together - roughly 1,500 minutes over four seasons - and how much Butler grew while Rose missed time while injured, occasional bumps in the road were understandable last year.

Despite any feeling-out process, Butler emerged as a legitimate two-way star, averaging 20 points, 5.8 rebounds, 3.3 assists, and 1.8 steals while playing aggressive and disruptive perimeter defense. If he continues to improve, particularly as a distributor and as a symbiotic partner for Rose, the Bulls stand to be a serious contender again in 2015-16.