NBA Insider Reveals Key Wrinkle in Bulls Guard’s New Contract

The Chicago Bulls recently signed Tre Jones to a new three-year contract. Jones joined the franchise midway through the season, but made a strong impression when on the court.

On July 6, HoopsHype’s Michael Scotto released an update, revealing the details of Jones’ new contract. Jones will earn $24 million throughout the duration of his new deal, giving him an average annual value of $8 million per season.

However, a key wrinkle that Scotto provided is that Chicago will hold a team option on the third and final year of that deal.

Therefore, if Chicago needs to shed some salary, or Jones outperforms his contract, the Bulls can make an important decision heading into that final year.

“Update: The Chicago Bulls have a third-year team option on their 3-year, $24 million deal with Tre Jones, sources told HoopsHype,” Scotto reported via X. “He averaged 11.5 points on 57.2% shooting overall and 50% from 3PT range, 4.9 assists, 3.2 rebounds and 1.1 steals in 18 games (9 starts) for Chicago.”

With Lonzo Ball no longer on the roster, Jones has a clear pathway to playing time next season. He fits Billy Donovan’s system and play style. Chicago’s decision to provide him with a contract extension shows they trust him to continue making an impact and potentially improving his game.

Billy Donovan Has Been Impressed With Jones

During a March 8 news conference, head coach Billy Donovan claimed that Jones has the ‘IT Factor.’

“He’s got something, he’s got the IT factor to me,” Donovan said. “He really does. He’s just a winner. You can look at size and length for position and he probably doesn’t have any of those things. But he has really good speed, he’s really tough, he’s got a high IQ, he understands competition. He can really stay in the moment and compete. The last two games on the road he’s been great. He’s got a lot of substance, a lot of competitive character to him.”

Jones averaged 25.3 minutes per game for the Bulls last season. Given Ball’s departure, it’s likely that he continues to embrace a significant role as part of the second unit. Furthermore, he could also be entrusted to step into the starting rotation when needed.

Bulls Still Negotiating With Josh Giddey

Chicago may have secured Jones’ future, but it appears there’s still work to be done in order to retain Josh Giddey.

According to Joe Cowley of the Chicago Sun-Times, negotiations between the two camps have enjoyed a “good dialogue.” Nevertheless, an agreement is yet to be reached.

“Bulls and Josh Giddey are having good dialogue, per a source, but the Giddey camp is dug in on the Suggs contract – $30 million per. Let the posturing continue,” Cowley reported via X.

Giddey has earned a pay rise. He has also proven that he can be a key part of the Bulls’ rebuild. Therefore, the fanbase will undoubtedly be hoping the two sides can reach a fair agreement. Unfortunately, that could mean negotiations continue for the foreseeable future.

Nevertheless, it would appear both Giddey and Chicago want to work things out, and that’s always a good sign.