Report: NBA executives believe Bulls' Butler will warrant max offer

Jimmy Butler's gamble on himself looks like it's paying off.

Butler is averaging 22 points, 5.9 rebounds, 3.4 assists and 1.4 steals for the 11-7 Chicago Bulls through one month of the season, in addition to maintaining his status as one of the game's best defensive players.

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Last week, it was reported that Butler turned down a four-year, $40 million offer from the Bulls before the Oct. 31 extension deadline. Now, Sean Deveney of the Sporting News reports that the Bulls' offer went as high as $11 million per year, and that "Butler was asking for $14 million per year, but would have been willing to negotiate downward to the $12.5-$13 million range."

Ultimately, the two sides failed to come to an agreement in time and Butler will be a restricted free agent come July, but the 25-year-old won't be kicking himself for failing to secure his long-term deal this past summer. That's because Butler's playing his way into a maximum contract offer, which Deveney reports several league executives already believe he will warrant.

“If you think you have a legitimate shot at him, you would have to come out with a max offer," an unnamed general manager is quoted as saying.

Butler's status as an RFA means the Bulls will maintain the ability to match any offers for their two-way star, and holding his Bird rights means they can offer him more money on a max deal than any other team can.

All things considered, including Butler's comments earlier this season about remaining in Chicago, it seems a pretty safe bet that the Bulls will keep him around. But it's going to cost much more to do so than it would have a couple of months ago.

By the time it's all said and done, it will likely be the Bulls kicking themselves for not meeting Butler's non-max demands this summer.