Tyrus Thomas, a lightning rod of discussion and controversy for the Bulls, becomes a restricted free agent this offseason.  The Bulls have until October 31 to offer him an extension, otherwise they will have to match any offer another team gives him this coming summer to keep him.  The likelihood of him remaining a Bull if he becomes a restricted free agent seems unlikely at best, since the Bulls will probably be using their cap space to chase one of the big free agents that will be available in the class of 2010.  Sources close to the Bulls seem to think that Tyrus will not be signed to an extension before the October 31st deadline, however:

A source close to the Chicago Bulls organization told us yesterday it looks like the Bulls will not extend Tyrus Thomas before the Oct. 31 deadline and I assume he also meant they will let him walk next off season when he becomes a restricted free agent.

I’m not sure how reliable that source is, but The Hoop Doctors usually are pretty good about reporting on NBA-related topics.  If Tyrus truly does walk, it will be the end of a sad saga for Paxson in which he essentially passed on taking Aldridge OR Roy in the 2006 draft.  On the other hand, Tyrus might break out in his contract year and earn a huge deal making the Bulls regret not extending him when his value was still somewhat low.  We’ll have to wait and see how this all plays out.

The Bears decided to sign Jay Cutler to a 2-year extension yesterday, which is really a win-win situation for Cutler and the Bears.  Jay had been signed through 2011 and this extension will keep him in a Bears uniform through 2013.  When the Bears first acquired Cutler, we were all thrilled to see that he would be here at least 3 years.  This extends that to 5 years.

The move works well for the Bears, since Cutler promises to be a premiere free agent when his contract expires and the going rate for QBs of his caliber in this league is exorbitant.  With Eli Manning and Philip Rivers signing enormous 6 year $100 million dollar deals, Cutler is looking at a huge payday whenever he is able to negotiate a new deal.  By signing Cutler for 2 additional years at a rate of about $15 million per season, the Bears are able to put off committing long-term to Cutler until 2013.

On Cutler’s side of the deal, he gets his market value per season, and retains the security that if he somehow gets injured or loses value, he will still collect a good amount of guaranteed money through 2013.  Also, he will only be 30 years old when the contract expires, allowing him the possibility to sign another decent sized contract when the time comes.

I love the deal for both sides.  Hopefully now with this kind of security, Cutler can move forward with even more confidence and lead us to a championship although at 3-2 with a tough late season schedule, it might not be so easy this season.