Updates
Sat, Jul 10th 2010, 12:46
JJ signs offer sheet with Bulls
I’ll call my one shooter and raise you another.
Or so went the Bulls’ gamble late Friday night, as sources said the Bulls reached agreement with restricted free agent J.J. Redick on a front loaded offer sheet of $20 million over three years.
The Orlando Magic has seven days to match the offer.
If the Magic do not match the offer, Redick goes to the Bulls.
If the Magic match, Redick stays with Orlando and can be traded, but not to the Bulls.
The big question for the Magic, and the reason why the Bulls made the offer the way they did, is with Orlando in the luxury tax it will cost the Magic, in effect, $14 million each season for the next two seasons to keep Redick. That’s because they are penalized $1 for every $1 they are into the luxury tax and adding Redick to their payroll is another $7 million annually doubled.
Is J.J. Redick worth $14 million per year to his team?
Thus, in effect, they would be paying more than $30 million for their shooting guard spot between starter Vince Carter and backup Redick.
Would they do that? Would you?
We’ll know in a week.
The money cannot be used by the Bulls on another free agent until the Magic makes its determination.
The move comes hours after the Bulls reached agreement with former Jazz guard/forward Kyle Korver on a $15 million three-year contract.
The combination, if Orlando doesn’t match, answers the Bulls question about perimeter shooting.
Comments
chris | on 15/7/10
jj, you know the heat would like to have you and its cold and windy in chicago. i’m no heat fan, i’m a redick fan. i saw jj play the hornets last year and i think he put up 11 in a loss, still respected me enough as a fan to sign my shirt after the game. thanks j. yeah, if redick goes to miami, its over. he’d be the ‘paxson’ of that situation and would surely win. however, i also like the chicago situation. they just wouldnt be contenders right away. good luck jj, come see us again in new orleans.
Tammy Barnes | on 14/7/10
Did you really get married?? I love you more than she does, you know it.
Kestrel | on 13/7/10
JJ congrats on the offer. I read that you would most likely be a starter and that would be great…either was and on either team I know that you will continue to grow as a player and get better. Best of luck..and congratulations on the wedding! Peace love and blessings always…...Kestrel
Ryan Acuff | on 13/7/10
JJ good luck on your contracts! it must be a tough time right now for you and your family! im sure it is very exciting at the same time! if it’s the BULLS i guess we have some new jerseys to buy and if it is Orlando then thats better weather!!
STAY_IN_ORLANDO | on 12/7/10
Redick you gotta stay in Orlando. You cant leave and go to chicago. Youve worked so hard to establish yourself as a legit player and your career is just starting. Why not finish it in orlando. Youre the only reason i love watching the magic play. Ive been watchin you play since your Duke days. Dont go to Chicago. The magic need you. WE NEED YOU!