NBA rumors: Lauri Markkanen wants to stay in Chicago 'long-term'

More on Lauri Markkanen Extension?

I think given that the new regime likely is viewing 2020-21 as a see-what-we’ve-got season, it’s more likely than not that no extension is reached. Then, you negotiate again in 2021 depending on how Markkanen fared. This strategy cost the Bulls a lot of money in the Jimmy Butler scenario. But it’s a good problem to have if a player with current question marks blossoms into a star — like Butler did and like Karnisovas hopes Markkanen can.
This is a tough one to predict. I wouldn’t say Markkanen’s value is at an all-time low because he’s still valued around the league, albeit with reservations. But, yes, coming off a season where his production dropped, his injury history continued and his usage mystified, this will be a tough negotiation. If you’re the Bulls, you obviously try to negotiate from a hard-line stance to keep the books as clean as possible without alienating his camp. Luckily, Karnisovas and Markkanen’s agent have a strong relationship, but that doesn’t guarantee anything except cordiality during negotiations. And Markkanen remains under the Bulls’ rights as a restricted free agent in 2021 if no extension is reached, albeit one with roughly a $20 million cap hold.
Markkanen is contract eligible this offseason, but considering he had a down year to go with a lowered salary cap due to COVID-19, it would be unlikely him and the Bulls come to an agreement. He still has one year left on his rookie deal before becoming a restricted free agent, however Markkanen did make it clear about his love for Chicago. “I want to stay in Chicago and sign an extension (with the Bulls), no question. I love this city.”
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