Bulls Pick Up Options On Butler, Teague

5:13pm: The Bulls have officially announced the moves, via press release.

4:14pm: After some “lingering doubt,” the Bulls have also picked up their 2014/15 option on Teague, according to Adrian Wojnarowski of Yahoo! Sports (via Twitter).

10:11am: The Bulls have officially exercised Jimmy Butler‘s fourth-year option, according to RealGM.com’s transactions log. The move ensures that Butler’s salary will be guaranteed through the 2014/15 season.

Butler, 24, appeared in all 82 games for the Bulls last season, averaging 8.6 PPG and a 15.2 PER as he emerged as a key part of the team’s core. He’ll be in line for a salary of about $2MM in ’14/15, and will also be eligible for a contract extension as of next July.

The Bulls also have to make a decision today or tomorrow on Marquis Teague‘s 2014/15 option, and the fact that it has yet to be picked up could signal that Chicago will pass. Although the Bulls would only be on the hook for an extra $1.12MM in ’14/15 if they exercised Teague’s option, a report earlier this month suggested that the club was prepared to move on from the second-year point guard.

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