Free agent forward Jabari Parker has agreed to a two-year, $40M deal with the Chicago Bulls, league sources tell ESPN. Milwaukee rescinded Parker's qualifying offer moments ago, making him unrestricted.— Adrian Wojnarowski (@wojespn) July 14, 2018
Parker was a restricted free agent and was set to sign the deal with the Bulls as an offer sheet, but it was long known that the Bucks were not going to match any deal. The Bucks rescinded the qualifying offer they gave Parker, which made him an unrestricted free agent and cleared the way for the Bulls deal to be finalized.
Jabari Parker also needed the Bucks’ qualifying offer to be rescinded due to the terms of the Bulls deal. The 2-year, $40 million includes a team option in year 2. Offer sheets for restricted free agents cannot contain options on either side. Obviously, $20 million is a lot of money, but the deal leaves flexibility for the Bulls to see how the forward produces next season, given his two ACL injuries, and if Parker can get the job done, he could get a long-term deal down the line.
Parker joins fellow Duke Blue Devils forward Wendell Carter, Jr. on the Bulls. It will be nice to see both doing work together this season.