Via KC, Otis Smith:
"I anticipate us doing it, but I'm not sure. It's too early. We'll talk about it."
They have 7 total days to figure it out. I'd expect them using most of that allotted time, if anything to seek out moving money elsewhere so matching Redick isn't as painful. I do think they'll eventually match, but I also expected the Warriors to match on Morrow and that doesn't look to be the case.
With that money effectively tied up for now, ChicagoNow puts the Bulls estimated remaining room at ~$7.3m. If the Magic don't match, the remaining space would likely go to a wing defender, backup center, and backup PG (in my preferred order). They can sign additional players to the minimum after the cap space is used up. I'm figuring the Bulls wouldn't want to acquire anybody outside of very low-end deals with the uncertainty of the $7m tied up in Redick's offer sheet.
As I remarked last night at Ric Bucher's 'pumped' remark about this signing: the worry I have isn't the signing as a singular act, but the Bulls attitude in this remaining offseason. By immediately going after Korver and Reddick, the Bulls are making moves that are already capitulating the idea of making a major strike this offseason. And with the Bulls not expecting to have this cap room again for a very long time, I'm disappointed that they wouldn't try some outside-the-box use of that room first. Signing guys of this caliber can be done any offseason using cap exceptions.
The Bulls actions to me signal a mindset they're content with their team and filling out some more pieces, accepting a status in the second or third tier (if the Heat are in their own) of the Eastern Conference. Why the rush to give in to that? It may be the eventuality, but I don't think they even considered an alternative. In my most overly cynical nightmares, it's because the Bulls are already thinking future luxury tax.