On June 26, the Chicago Bulls will have the 11th choice in the 2024 NBA Draft. A few days later, they will have to make important choices about the free agency of Zach LaVine, DeMar DeRozan, and Patrick Williams.
However, the most crucial issue is what to do with Alex Caruso as he approaches his contract’s last year.
Caruso will be able to sign a four-year contract extension worth $78.8 million on July 6; this will be a significant increase over the $36.9 million contract he will sign for the 2024–2025 season.
What DeRozan does for the Bulls’ offense, Caruso does for the team’s defensive identity and culture. Despite alluring trade offers, the organization has declined to deal Caruso because of their declared desire to be competitive.
On Caruso, the Bulls received calls but never followed up. A source with knowledge of the issue claims that prior to the 2024 Trade Deadline, the Bulls had received proposals from several clubs, including several protected first-round selections. One of the agreements
The Bulls’ internal party line was that they would have to find a replacement for Caruso as soon as they moved him.
The source did, however, claim that the Reinsdorfs had given them the order to contend for the playoffs. That undoubtedly had an effect on the front office’s judgment when it came to completing any Caruso deal.
Despite being at odds with what Karnisovas has said in public, ownership pressure to compete helps explain the Bulls’ lack of direction. It might also indicate that the Bulls are still hesitant to trade Caruso as long as they are tasked with maintaining their competitiveness. Whether that is still the case is unknown.
The Bulls need to give the trade market more thought or try to extend him before he becomes a free agent after passing up trade opportunities.
They might have the upper hand in keeping him; given his ongoing danger of injury, it’s probable Caruso would rather lock in long-term security with an extension. Alternatively, he might wish to exercise his right to free agency, where he is likely to draw comparable or greater offers in winning team environments.
The Bulls have a history of outbidding teams in an apparent empty market to retain their players. But there are real hazards involved with extending him.
The final year of a player’s contract is when veteran extensions under the new Collective Bargaining Agreement (CBA) begin, at 140 percent of the player’s salary, unless the player’s pay is less than the NBA average. Caruso’s extension will begin at 140 percent of the estimated average wage of $12.5 million, which has not yet been disclosed, because his salary will fall short of the league average.
