Bulls Exploring Extension For Taj Gibson

While the Bulls' hard cap for 2012/13 makes it difficult to add any more players without first clearing salary, it doesn't stop the team from negotiating contract extensions for its current players. The club's primary extension candidate is Taj Gibson, who suggests to Scott Powers of ESPNChicago.com that talks about a possible extension are underway between the Bulls and Gibson's representatives.

"They're talking about that stuff now," Gibson said. "I'm not even thinking about that. A lot of people always talk about that all year long, all season long. I don't really worry about it. I won't really be thinking about it. I'm just going out there and playing my game."

Heading into the final year of his rookie contract, Gibson will earn just $2.16MM in 2012/13, but is set for a sizable pay raise next summer, whether or not he reaches free agency. The Bulls' decision to let Omer Asik walk this summer seems to indicate the club will allocate its long-term resources to other players, such as Gibson.

When Ryan Raroque of Hoops Rumors examined Gibson as an extension candidate in July, he wrote that a multiyear contract worth in the neighborhood of $6MM annually could be a reasonable deal for both sides. The Bulls and Gibson have until October 31st to work out an extension — if they can't reach an agreement, the 27-year-old will become a restricted free agent after the season.

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