As a result of the decision, Valentine will be under contract for the 2020/21 season on a one-year, $4.64MM deal. He’ll have a de facto no-trade clause for the season and will become an unrestricted free agent in 2021 once the contract expires.
The Bulls’ decision to extend a qualifying offer to Valentine was somewhat surprising. After a promising 2017/18, he has only appeared in 36 games over the last two years due to injuries. He averaged 6.8 PPG and 2.1 RPG on .409/.336/.750 in 13.6 minutes per contest for Chicago last season.
New president of basketball operations Arturas Karnisovas reportedly values Valentine’s shooting ability, which played a big part in the Bulls’ decision to make him a restricted free agent. The 27-year-old knocked down 38.6% of his three-point attempts in his last full season in ’17/18.
Free agent contracts generally can’t be officially completed until after the moratorium at the start of each league year, but signing a qualifying offer is one of the few transactions that is permitted in that window.