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Report: Chicago Bulls Sign Jabari Parker to 2-Year, $40M Contract

Milwaukee rescinded Jabari Parker’s qualifying offer to make him a free agent

NBA: Playoffs-Boston Celtics at Milwaukee Bucks Jeff Hanisch-USA TODAY Sports

Jabari Parker has officially ditched the cream and green for the red and white, as the Chicago Bulls have signed him to a 2-year, $40M dollar contract according to Adrian Wojnarowski.

The dollar figures and years certainly raise some eyebrows, especially after news dribbled out yesterday that the two sides were progressing on a deal that initially appeared to only be an offer sheet. Woj reported yesterday though that it was unlikely the Bucks would’ve matched any offer sheet, leading to them rescinding their $4.3M qualifying offer today.

Freeing Parker up was a good faith move by Jon Horst and company after their clear intentions to let Parker walk whether he signed an offer sheet or not. There were a number of sentiments expressed by both Parker’s agent Mark Bartelstein and the Bucks organization themselves to help illustrate this breakup is relatively amicable.

Jabari entered Milwaukee as a number two overall pick with lofty expectations on his shoulders, and he now leaves for his hometown team hoping to recover the talented game sapped by his two ACL tears during his four years with the Bucks. The signing of Ersan Ilyasova seemed to illustrate Milwaukee wanted a backup plan in place should Parker leave. Now, the Bucks will be free of any future decisions on Jabari and clear up some cap space for the potential signings of Khris Middleton and Malcolm Brogdon next year. For now though, get ready for the sight of Jabari in Bulls’ red for the time being.