Nikola Vucevic and the Chicago Bulls have opened discussions on a contract extension.

Vucevic will become an unrestricted free agent if an extension isn't agreed upon by June 30th.

The Bulls can offer an extension worth up to approximately $118 million over four seasons.

Chicago traded for Vucevic in 2021 when they sent Wendell Carter Jr., the first round pick that became Franz Wagner and the 11th overall pick this year.

The Portland Trail Blazers moved up to the third pick in the draft. Portland GM Joe Cronin indicated the team's goal is to still build a winner around Damian Lillard. That could have the Blazers in the market to trade that pick.

In addition, Portland may reach out to renegotiate the protections on a pick that they owe to the Chicago Bulls. That pick is lottery-protected through 2028. That hampers the Trail Blazers ability to trade future picks, because they could still have that original pick to convey to Chicago.

In recent years, the Miami Heat renegotiated protections on a pick they owed to the Oklahoma City Thunder. Miami loosened protections and delivered an early pick to Oklahoma City, in order to free up a later pick. Portland could do the same, or could send Chicago additional draft compensation or a player, in order to change the protections on the future pick they owe them.

The Chicago Bulls recently signed Arturas Karnisovas to a contract extension, a source told Darnell Mayberry of The Athletic. Chicago signed Karnisovas to an extension "quietly", similar to how they did with Billy Donovan early in the season. 

The Bulls lost in the final play-in game after beating the Toronto Raptors as the No. 10 seed.

"People throughout the organization believe the franchise is headed in the right direction," writes Mayberry.

"Karnisovas has a good working relationship with Bulls COO Michael Reinsdorf, which can and likely will keep Karnišovas through a second contract," adds Mayberry.