“Hey Jerry Reinsdorf, I’d like a $4.6 Million signing bonus!”: When Jimmy Butler demanded money upfront from the Bulls on his 5-year, $90 Million max contract

Jimmy Butler was signing a max deal with the Chicago Bulls in 2015, and he decided to switch up his payment options

Back in the summer of 2015, Jimmy Butler was a highly anticipated free agent. After having declined an extension from the Bulls in the previous season, it was clear Butler was looking to get paid. During the 2014-15 season, Butler made a tremendous leap. From averaging 13.1 points during the ’13-14 season, Jimmy went up to 20 points per game.

This earned Jimmy Buckets his first All-Star nod. He was also elected the Most Improved Player. All these helped Jimmy secure a much bigger bag than what was initially offered. After negotiating with the front office, he signed a 5-year, $95 million deal. The deal had a player option in the 5th year.

Coming from his humble roots, this was a huge deal for Butler, and he didn’t take it for granted. His performances only kept getting better. After averaging a career-high 23.9 points in the ’16-17 season, Butler was traded to the Minnesota Timberwolves.

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Jimmy Butler asked for a $4.6 million signing bonus

In his first 4 years in the league, Jimmy barely made a little more than $5 Million. During the summer of 2015, there were a lot of contenders rooting to steal Jimmy, however, the Bulls were prepared to match any offer.

This resulted in Jimmy securing a $95 million deal, out of which, he demanded $4.6 million upfront, as a signing bonus.

Now, as per CBA rules, a signing bonus cannot be more than 15% of the offer. Also, offer sheets should not include a bonus that goes over 10% of the compensation. Basically, the $4.6 million bonus was split over 4 years, with Jimmy getting equal parts of the same at the start of each season, instantly. The bonus isn’t affected by hikes in salary.

Even though that meant more money in hand, in the end, Jimmy Butler lost approximately $2 million by opting for a bonus. However, Butler wanted the money at that time, so I’m sure that $2 million wouldn’t have hurt as much.

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Butler has come a long way from 2015. He’s currently on a 4-year, $140 million deal, and has a 3-year, $147 million extension coming his way.