The Bulls have made it official with first-round pick Lauri Markkanen, announcing today in a press release that they’ve signed the former Arizona big man to his rookie contract.
Markkanen, this year’s seventh overall pick, was acquired by the Bulls from the Timberwolves in the Jimmy Butler blockbuster, heading to Chicago along with Kris Dunn and Zach LaVine in exchange for Butler and the 16th overall pick (Justin Patton).
Markkanen’s new deal, which will feature two guaranteed years followed by two team options, figures to pay him $3.822MM in year one, and about $20.39MM over the full four years, as our rookie scale chart shows. Those figures assume he signed for 120% of the rookie scale amount, which virtually every first-rounder does.
Assuming he plays out his full deal, Markkanen will be eligible for an extension in the 2020 offseason, and could become a restricted free agent in 2021 if he doesn’t re-up the year before.