The Magic have until tomorrow to match the offer for Redick, and a report this morning indicated they will (though I'm not sure how much we can believe it), and Sam Smith says he's 'hearing' the same.
KC casually threw in that the difference between a Redick match and not is $5m or $12m in remaining cap space, figures that are a lower than 'our' projections, but we were making assumptions on how fully-backloaded some other signings were. While it made the most sense to have the lowest cap figure possible this offseason, it's also a negotiable component of these signings. And it's looking clear that after the Boozer signing, the Bulls didn't value as much of the remaining cap space as one would think, content on filling out the roster around this 'core' instead of possibly adding another core piece.
A lower cap space estimate hurts a bit, because it shifts the possibility of signing another higher-caliber SG to being likely only if Redick isn't signed, and not regardless. It's looking like the obvious fall-back option would be Ronnie Brewer, who has one less suitor in the Jazz after they signed Raja Bell. Hopefully he's waiting out this decision like we are, with a starting spot pretty much guaranteed if Redick is matched.
Meanwhile, other guards are being picked up (another good choice, Delonte West, may be off the table for different reasons), and though none were exactly suitable starting SGs, it's not like the Bulls need just one guard.
And the latest has Brad Miller mulling an offer from the Rockets. I'm not saying that the Bulls made some awful error in having their cap space tied up in Redick, they made it quite uncomfortable for the Magic to match and they might not. But if it's true that they didn't back-load other deals which costed them enough cap space to sign contingencies while they waited, they're stuck hunting for real bargains next week.